Getty Images Former President, Andrés Manuel López Obrador celebrates with successor Claudia Sheumbaum. After passing on power to Claudia Sheinbaum on 1 October, Mexico’s outgoing president, Andrés Manuel López Obrador, raised her arm in a joint victory celebration. López Obrador, a popular but controversial figure in Mexico, not only handed over the presidential sash to his political protégé, but also a nation and economy with both successes and challenges. Mexico has improved its trade relations with the US, becoming their biggest trading partner by displacing China. The country has benefited from the relocation of US and Asian firms to northern Mexico to avoid US tariffs on Chinese exports, a trend that is expected to continue. However, critics argue that this relocation may only benefit the companies involved rather than the Mexican economy as a whole.
President Sheinbaum faces immediate economic challenges, particularly with the state-owned energy firm Pemex, which has a massive debt burden. The company’s focus on fossil fuels under the López Obrador administration has left it poorly positioned for the transition to cleaner energy sources. The government aims to achieve fuel self-sufficiency by 2025, but Pemex’s financial difficulties may hinder this goal.
Sheinbaum must also navigate Mexico’s relationship with the US, with potential challenges in trade, immigration, and the USMCA free trade agreement. The peso’s fluctuations and diplomatic tensions with Washington add to the complexity of her early days in office. Despite these challenges, President Sheinbaum, known for her environmental consciousness, faces the task of balancing economic interests with environmental responsibilities in a changing global landscape. Como parte del legado de su predecesor, ella disfruta de un nivel de apoyo casi sin precedentes con el partido gobernante en una posición inexpugnable en todo el país.
Su promesa electoral clave – extender los programas sociales de López Obrador en pensiones, estipendios familiares y becas estudiantiles, y construir lo que ella llama el “segundo piso” de su proyecto político – le aseguró el respaldo de millones de mexicanos.
También puede contar con un congreso leal y, tras la reforma, potencialmente el control del poder judicial también.
Tomar posesión en una posición tan poderosa es un lujo, que tanto sus seguidores como críticos esperan que ella use para abordar adecuadamente algunos de los principales obstáculos económicos de México.
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