In an interview with
The Globe and Mail in
London, 2009, Champagne expressed his desire to eventually return to Canada and enter politics, citing fellow Shawinigan resident
Jean Chrétien as an inspiration. Ahead of the
2015 Canadian federal election, he was nominated as the
Liberal candidate in
Saint-Maurice—Champlain, a riding represented at the time by
New Democratic-turned-Liberal MP
Lise St-Denis, and was elected to Parliament on October 19, 2015. After his election in 2015, Champagne was appointed as parliamentary secretary to the Minister of Finance until 2017, when he was appointed Minister of International Trade.
Minister of Infrastructure and Communities (2018–2019) In 2018, Champagne was named Minister of Infrastructure and Communities, and oversaw the federal government's $187 billion infrastructure investment plan. in 2020
Minister of Foreign Affairs (2019–2021) In November 2019, Champagne became
Minister of Foreign Affairs, taking the helm of
Trudeau's foreign policy. In June 2020, it was reported that Champagne had two more mortgages with the state-owned
Bank of China, raising questions of potential vulnerability to foreign influence. Champagne welcomed Trump's
peace agreement between
Israel and the
United Arab Emirates as a positive and historic step toward a peaceful and secure Middle East, adding Canada was gladdened by suspension of Israel's
plans to annex parts of the occupied
Palestinian territories in the
West Bank.
Minister of Innovation, Science and Industry (2021–2025) In the
2021 Canadian cabinet shuffle, Champagne was moved out of the foreign affairs portfolio, and became Minister of Innovation, Science and Industry. Champagne was characterized by
Politico in 2023 as "Trudeau's pitchman" for a global audience, tasked with luring would-be foreign investment in the
United States to instead invest in Canada. His efforts were credited with enticing
Volkswagen to construct a
gigafactory in Canada rather than the U.S., a first for the company outside of Europe. In 2024, he suggested that the
Competition Bureau should scrutinize
Big Tech companies' activities in the
payments sector. Champagne highlighted
competition-related concerns associated with
Apple and
Google's
digital wallet services. Champagne was widely considered to be a possible candidate in the
2025 Liberal Party of Canada leadership election, following the resignation of Prime Minister
Justin Trudeau. He later announced that he would not enter the leadership race to focus on defending Canadians from the threat of tariffs of the second Trump administration. On January 16, he endorsed former Bank of Canada governor
Mark Carney.
Minister of Finance (2025–present) Champagne was appointed minister of finance on March 14, 2025, upon the swearing-in of
Mark Carney's cabinet. Following the
2025 federal election, he was additionally given the responsibility of
National Revenue. In July 2025, Champagne asked fellow cabinet ministers to find savings in their departments, with the goal of a 15% government operational spending cut by 2029. Champagne announced in October that the government would establish a Financial Crimes Agency in 2026, along with a "national anti-fraud strategy". He presented the
2025 federal budget in November, promising to reduce the civil service by about 40,000 positions, cut temporary immigration from 673,650 in 2025 to 385,000 in 2026, balance operational spending by 2029, and reach the 2% of
GDP NATO target for military spending by 2026. In January 2026, the government announced the "Canada Groceries and Essentials Benefit", which will increase quarterly
goods and services tax (GST) payments by 25 percent over five years. It was also announced that a one-time GST top-up of 50 percent would be implemented in June 2026. ==Personal life==