In a pivotal week for North American economic relations, Mexico’s President Claudia Sheinbaum announced the creation of a new investment promotion council, while in Washington, D.C., the Trump administration began hearings that could reshape the U.S.-Mexico-Canada Agreement (USMCA). The moves, both unfolding in early December 2025, have set the stage for potential shifts in trade, investment, and regional cooperation, with billions of dollars and countless jobs hanging in the balance.
On December 4, President Sheinbaum convened a private meeting at Mexico’s National Palace, bringing together some of the country’s most influential business leaders. Attendees included billionaire Carlos Slim, FEMSA CEO José Antonio Fernández, Grupo Financiero Banorte Chairman Carlos Hank González, Francisco Cervantes of the Business Coordinating Council (CCE), and Altagracia Gómez, who leads the Presidential Advisory Council for Regional Economic Development. The agenda: to launch an investment promotion council closely tied to Plan México, the administration’s flagship strategy for aligning private investment with social development and sustainability.
“Today at the National Palace, we met with business leaders and agreed to hold regular sessions through an investment promotion council aligned with Plan México,” Sheinbaum declared on social media, underscoring the government’s commitment to deeper collaboration with the private sector. According to Gómez, these sessions are designed to review ongoing investment projects, identify ways to accelerate them, and explore new opportunities in mixed investment, infrastructure, energy, and services. She further explained that the council would soon expand to include a broader array of business representatives, aiming to “improve communication with companies across the country.”
The stakes are high. The Mexican government projects it could attract up to US$45 billion in investment by the end of 2025, with Plan México serving as the main engine. This ambitious target comes on the heels of a record-breaking year for foreign direct investment (FDI). Minister of Economy Marcelo Ebrard confirmed that Mexico is on track to reach nearly US$41 billion in FDI for the fourth quarter of 2025—a 15% jump over 2024. What’s especially notable is the surge in new investments, which have climbed from US$2 billion to about US$6.5 billion in the last quarter alone, signaling a wave of fresh capital rather than mere reinvestment.
These numbers aren’t just abstract statistics. Major companies are putting real money on the line. Grupo Modelo, for example, has announced plans to invest more than US$3.6 billion between 2025 and 2027. Their focus: modernizing breweries, improving water efficiency, shoring up national supply chains, and advancing sustainability initiatives like returnable packaging and recycling programs. Meanwhile, Fibra Uno (FUNO), the largest real estate investment trust in Mexico and Latin America, revealed at FUNO Day 2025 in New York that it will invest MX$10 billion (about US$538.4 million) annually over the next five years. This MX$50 billion (US$2.6 billion) program is set to strengthen FUNO’s industrial, retail, and office portfolios, capitalizing on robust domestic consumption and the continued growth of e-commerce and third-party logistics demand.
While Mexico’s business community is riding a wave of optimism, the mood north of the border is more anxious. From December 3-5, the Trump administration hosted three days of hearings at a government building just south of the National Mall in Washington, D.C., kicking off what could be a contentious process to rework the USMCA. This trade deal, signed into law by President Trump in 2020 during his first term and replacing the North American Free Trade Agreement (NAFTA), is up for its mandatory six-year review. The stakes? The rules that govern hundreds of billions of dollars in trade flows across North America.
The hearings drew a diverse crowd—farmers, academics, trade groups, and industry representatives—all eager to shape the administration’s approach to the negotiations. Most agreed the USMCA could use some improvements, but there was a clear message: don’t throw the baby out with the bathwater. “The overriding aim of the review and the revision ought to be to enhance competitiveness, not to jeopardize it,” testified David Gantz, a fellow at the Baker Institute for Public Policy, according to Politico. He invoked a familiar phrase from the medical world: “First, do no harm.”
That sense of caution is widespread, especially among industries that have come to rely on the stability and tariff-free access provided by the USMCA—think automobiles, farm goods, and textiles. The prospect of the United States withdrawing from the agreement is a real worry, especially given President Trump’s skepticism of free trade deals. As Jamieson Greer, the U.S. Trade Representative, told Politico, Trump “could decide next year to withdraw from the U.S.M.C.A., saying the president wanted only ‘deals that are a good deal.’” That uncertainty has business leaders on edge; after all, many have built their entire supply chains around the agreement’s provisions.
For Mexico, the timing of these developments is especially delicate. President Sheinbaum has confirmed she will travel to Washington, D.C., on December 5 to attend the draw for the 2026 FIFA World Cup. While in the U.S. capital, a bilateral meeting with President Trump is possible, though not yet finalized. The potential for such a meeting, set against the backdrop of both countries’ economic maneuvers, has observers watching closely for any signs of new agreements—or new tensions.
Meanwhile, the Mexican government’s strategy appears to be one of broad engagement and forward momentum. As Gómez put it, the new investment council is meant to “broaden participation, bring more business representatives into the discussion, and incorporate additional perspectives.” Sheinbaum’s administration is betting that by strengthening ties between government and industry, Mexico can keep the investment boom going—even as external pressures mount.
But the shadow of U.S. trade policy looms large. The possibility of a renegotiated—or even canceled—USMCA could have profound implications for Mexico’s export-driven economy. Exports have continued to grow, even in the face of new tariffs in some markets, according to Ebrard. Yet, the uncertainty in Washington could make investors wary, potentially slowing the inflow of new capital that has powered recent gains.
As the year draws to a close, the region stands at a crossroads. Mexico is pushing ahead with ambitious investment plans and new mechanisms for public-private cooperation. In the United States, the future of North American trade is up in the air, with the Trump administration signaling a willingness to walk away from the USMCA if it doesn’t meet its standards. For business leaders, workers, and policymakers on both sides of the border, the coming months will be critical in determining whether North America’s economic engine keeps humming—or hits a speed bump.
With high-level meetings, record investment flows, and the fate of a continent-wide trade agreement all in play, December 2025 is shaping up to be a defining moment for the future of Mexican and North American prosperity.
