Claudia Sheinbaum's Economic Agenda: No Tax Hikes, Major Infrastructure Investments and Wage Hikes

Mexican President-elect Claudia Sheinbaum announced no plans to increase taxes for the general population while pledging to invest in major infrastructure projects and raise the minimum wage. Maintaining social welfare programs, Sheinbaum aims for a smooth 2026 USMCA review. The peso dropped 1.3% following her comments.

Mexican President-elect Claudia Sheinbaum said on Wednesday that she has no plans to increase taxes for the general population but that her administration would continue to invest in major infrastructure projects and increase the minimum wage.

Sheinbaum, who will take office in October after winning a landslide election victory earlier this month, also guaranteed to maintain social welfare programs expanded under her predecessor and mentor President Andres Manuel Lopez Obrador. The peso extended losses on Sheinbaum's comments, trading down 1.3% against the dollar.

Mexico's incoming president said she thought the planned review in 2026 of the United States-Mexico-Canada Agreement (USMCA) will be "minor."

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