Sheinbaum's Powerhouse Cabinet: Mexico's Future in Capable Hands

Mexican President-elect Claudia Sheinbaum announced key appointments to her cabinet, including Marcelo Ebrard as economy minister, tasked with overseeing USMCA trade negotiations. Additional appointees include Juan Ramon de la Fuente as foreign minister and Alicia Barcena as environment minister. The market reacted to these skilled political and technical officials.

Mexican President-elect Claudia Sheinbaum on Thursday named six members of her incoming cabinet, including political heavyweight Marcelo Ebrard as economy minister, putting him in charge of trade negotiations.

Sheinbaum also named Juan Ramon de la Fuente, former ambassador to the United Nations, to be her foreign minister. Ebrard, as economy minister, will oversee an upcoming review of the United States-Mexico-Canada Agreement (USMCA) trade pact in 2026.

In a short speech after his nomination, Ebrard said his office would look for "shared prosperity." The Mexican peso strengthened some 0.30% against the U.S. dollar following Sheinbaum's speech, while the main stock index dipped nearly 0.90%.

"The market's interpretation seems to be that Sheinbaum's cabinet are officials who have extensive technical and political capabilities," analysts at CIBanco said in a note. Current Foreign Minister Alicia Barcena will take over as environment minister, while Rosaura Ruiz will head a new science and technology ministry and Mexico City Attorney General Ernestina Godoy will join as judicial adviser.

Former regional head of the United Nations' Food and Agriculture Organization (FAO), Julio Berdegue, will head the agriculture ministry. The incoming president repeated her support for a Lopez Obrador policy which is set to ban genetically modified corn for human consumption.

Sheinbaum is set to name more cabinet members next Thursday.

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