Claudia Sheinbaum and Her Economic Plan

There will be no competition with the United States and Canada, but rather complementarity

As part of her speech during the inauguration as President of the Republic, Claudia Sheinbaum Pardo made clear the principles that will guide the economic policy during her administration.

Sheinbaum Pardo stated that she will continue to govern under the principle of republican austerity because she remains committed to the idea that “for prosperity to exist, it must be shared, and there cannot be a wealthy government with a poor population.”

She thus pledged to the Mexican people that she will continue to raise the minimum wage to reach the goal of 2.5 basic baskets, for which her government will work hand in hand with the business sector.

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“We will not increase the price of gasoline, diesel, domestic gas, or electricity in real terms. In the coming weeks, we will be calling on businesspeople to confirm the agreement that keeps the prices of the basic basket stable,” the President emphasized.

She also assured that the autonomy of the Bank of Mexico will be maintained, along with a responsible fiscal policy, and that a reasonable ratio between debt and Gross Domestic Product will be sought.

Addressing national and foreign investors, she asked them to rest assured that their investments in the country will be safe, and she affirmed that both public and private investment will continue to be promoted.

She highlighted that thanks to Mexican Humanism, initiated under the government of her predecessor Andrés Manuel López Obrador, many myths linked to the country’s economic development and the fight against poverty were broken.

“It used to be said that the state had to dissolve or subordinate itself to market forces, that if the economy was watered from above, it would eventually reach those below. That if the minimum wage increased, there would be inflation and no foreign investment. That if the state participated in the economy, there would be an economic crisis and devaluation, that corruption was inherent in government, that freedom only existed in the market, that education, health, housing, and fair wages were commodities, not rights. All of that turned out to be false.”

Seeking the Consolidation of the Entire Continent’s Economy

During the speech she delivered to those who accompanied her at her inauguration as the 66th President in Mexico’s history, she spoke about trade relations with the United States and Canada. She said that the trade agreement with both nations would be leveraged to continue promoting the relocation of companies while fostering regional development with well-being and care for the environment.

As part of her greetings to representatives from 105 countries in attendance, she “especially” thanked Dr. Jill Biden for attending on behalf of the President of the United States, Joe Biden, and also Peter Boehm, a representative of the Senate of Canada, two countries with which Mexico holds one of its key trade agreements, which will be reviewed next year.

“<b>The United States, Canada, and Mexico</b> know that economic cooperation strengthens all three nations. It is clear that we do not compete with each other; we complement each other.”

She also stated that Mexico will continue to strengthen its economic and cultural ties with the countries of Latin America and the Caribbean and committed to creating the conditions for greater consolidation of the economy across the continent, with a vision of the present and future of the global economy.

The President, now in office, expressed her gratitude to the migrant population and the generosity of the Mexican people.

“Mexico is wonderful thanks to our compatriots, heroes and heroines who live in the United States and, with love for their families and their country, send their support every month.”