Industry Chambers, Leaders Celebrate Marcelo Ebrard's Appointment

The appointment of six new cabinet members by president-elect Claudia Sheinbaum, especially Marcelo Ebrard as the new Minister of Economy, has brought certainty and confidence to both investors and international markets. However, confidence levels have not yet returned to those seen before the election.

Alejandro Malagón, President, Confederation of Industrial Chambers (CONCAMIN), praised Ebrard's appointment for his willingness to dialogue and support investments. "The Ministry of Economy will be very important for the revision of USMCA in 2026. I think Marcelo's appointment strengthens Mexico's position, ensuring that we approach the revision in a very good standing," Malagón said.

The Business Coordinating Council (CCE) also celebrated Ebrard's appointment and expressed that the private sector hopes to build a relationship based on trust, certainty and unity. "The private sector will continue a constructive and frank dialogue around the renegotiation of USMCA, investment attraction, legal certainty, investment in science and technology, financing for agriculture, and the promotion of an agenda in favor of sustainability and a more conscious use of natural resources," added the organization.

The National Chamber of the Transformation Industry (CANACINTRA) expressed confidence in the experience of the new cabinet, especially in that of Ebrard, as it is expected that he will support industries. "Ebrard knows the international arena well and we are confident that he will worthily fulfill the task he was given, promoting industrial development and attracting investment." The National Agricultural Council (CNA) also expressed optimism about the composition of the cabinet, with which it will collaborate to promote a more productive, sustainable and inclusive agricultural sector that guarantees the country's food security.

Gabriela Siller, Director of Economic and Financial Analysis, Banco Base, noted that while the market reacted positively to Ebrard's appointment, some concerns still linger. On Monday, the exchange rate closed at MX$17.97 per dollar, appreciating 0.81% against the MX$18.11 rate from Friday. Banxico pointed out that this is the first time since the elections that the peso has dropped below MX$18 per dollar. However, it remains above the pre-election rate of MX$16.96 pesos per dollar. According to Expansión Política, the market expects the interest rate differential between Mexico and the United States to remain unchanged.

Who Is in Sheinbaum's Cabinet?

The new cabinet will feature well-known officials from López Obrador's administration and from Sheinbaum's time as Mayor of Mexico City. Ebrard has been appointed Minister of Economy, Juan Ramón de la Fuente as Minister of Foreign Affairs, Alicia Bárcena as Minister of the Environment, Ernestina Godoy as Head of the Legal Counsel’s Office of the Presidency, Julio Berdegué as Minister of Agriculture and Rural Development, and Rosaura Ruiz as the new Minister of Science, Humanities, Technology, and Innovation.