On September 5, 2025, Mexican President Claudia Sheinbaum took to the podium at her now-regular “Mañanera del Pueblo” morning press conference, laying out a dizzying array of domestic priorities and grappling with the ever-complicated relationship with the United States. The day’s agenda, according to Heraldo USA, ranged from economic reforms to the fate of missing students, all while the specter of U.S. tariffs and regional security tensions loomed large.
Sheinbaum, who has enjoyed soaring popularity at home—polls show her approval rating between 70% and 80%, as reported by the Associated Press (AP)—began by announcing a nationwide tour to present her First State of the Nation Report directly to the people. This move, she said, is meant to foster transparency and keep her administration accountable to ordinary Mexicans. The tour comes at a time when Sheinbaum’s government is touting significant progress on several fronts, even as it faces mounting pressure from both domestic critics and international partners.
One area of notable achievement, according to Sheinbaum, is the improved financial footing of PEMEX, Mexico’s state oil company. She wasted no time in contrasting her administration’s record with those of her predecessors, Felipe Calderón and Enrique Peña Nieto, under whom PEMEX’s debt ballooned from US$46 billion to US$105 billion in just 12 years. “It’s not possible that this happened; how can it be explained?” she asked, her frustration palpable. Sheinbaum explained that debt service payments under the previous governments reached a staggering 300 billion pesos (about US$16.05 billion) annually, roughly 1% of Mexico’s GDP. Fast forward to today, and PEMEX’s debt has dropped from 97.6 billion pesos (US$5.22 billion) in 2018 to 77.3 billion pesos (US$4.14 billion) as of September 5, 2025. In addition, 240 billion pesos (US$12.84 billion) have been paid to suppliers, and a new payment cycle starting September 8 is set to settle nearly all outstanding obligations. Despite what she called a “neoliberal legacy,” Sheinbaum insisted that PEMEX remains profitable and uniquely skilled.
But the President’s agenda extends far beyond balance sheets. Sheinbaum also addressed the long-standing Ayotzinapa case, the 2014 enforced disappearance of 43 teacher training students that continues to haunt the nation. She reported that new lines and methods of investigation are being developed, and that the Prosecutor’s Office is seeking to bring all related cases to trial. The latest advances were presented to the families of the disappeared, though the families remain frustrated, demanding faster action and the execution of arrest warrants. In response, Sheinbaum has asked the Ministry of the Interior to convene new groups of United Nations experts, while clarifying that the Argentine independent experts group (GIEI) will not return.
Meanwhile, Sheinbaum announced a significant fiscal reform: starting in 2026, the Bank Savings Protection Institute (IPAB)—formerly known as FOBAPROA—will no longer absorb part of the banks’ debt deducted from taxes. This change will mean an additional 10 billion pesos (US$540 million) annually for the people of Mexico, a move she touted as a win for ordinary citizens.
September 5 also marked the International Day of Indigenous Women, and Sheinbaum took the opportunity to highlight a historic milestone: for the first time, more than 20,000 Indigenous communities are receiving a direct budget of 13 billion pesos (US$700 million), managed by committees led by women. The President called this a recognition of Indigenous women’s rights, but cautioned, “we must aim for more.” In a related effort to bolster inclusion, the Ministry of Public Education unveiled the Women’s Rights Handbook, translated into 27 Indigenous languages and distributed to 6,700 schools—reaching some 400,000 students. The handbook will also be broadcast on community radio stations, aiming to promote rights and strengthen linguistic and cultural inclusion.
Looking ahead, Sheinbaum announced that Mexico’s 2026 Economic Package will be delivered to Congress on September 8, with the Ministry of Finance presenting its key elements the following day. She emphasized that the package will prioritize science and projects with a scientific and humanistic focus—pillars of what she calls the country’s ongoing “Transformation.”
Sheinbaum also reiterated her opposition to nepotism in politics, reaffirming that she has sent a bill to Congress to prohibit immediate family members of governors, mayors, or legislators from running for the same post in consecutive elections. “We must democratize the country’s political life,” she declared, making clear her intent to break with entrenched political practices.
Yet, even as Sheinbaum pushes forward on the home front, her presidency is increasingly defined by the high-wire act of managing Mexico’s relationship with the United States. Since U.S. President Donald Trump returned to office, Sheinbaum has walked what Michael Shifter of the Inter-American Dialogue called “a fine line.” Her strategy—lauded by some as that of a “Trump whisperer”—has involved cracking down on cartels with a heavier hand than her predecessor, delivering dozens of cartel affiliates to American authorities and pointing to lower fentanyl seizures at the U.S. border. In her September 4 press conference, Sheinbaum explained, “If this problems reduces, then we evidently want to see that 25% (tariff) shrink.”
Despite these efforts, Sheinbaum faces mounting frustration. The AP reports that, just last month, Trump told the press, “Mexico does what we tell them to do,” and recently claimed that Mexico is still run by cartels. Political analyst Palmira Tapia noted that Trump’s “winning strategy has been to get what he wants with the threat of tariffs,” leaving Sheinbaum with few alternatives. Sheinbaum has publicly rejected U.S. offers to send troops to fight cartels, and her push for a formal security agreement with the U.S. has so far failed to materialize. Instead, a high-level group of Mexican and U.S. officials has been established to monitor cooperation, a move that U.S. Secretary of State Marco Rubio described as a “fancy term that means nothing, but it means a lot.”
The regional context has only grown more tense. The Trump administration’s recent strike in the southern Caribbean, which killed 11 alleged drug traffickers, has ruffled feathers across Latin America, where leaders remain wary of American intervention. Following her meeting with Rubio, Sheinbaum’s government reminded the U.S. of the importance of acting “without subordination” and respecting allies.
Still, Sheinbaum’s administration retains a few cards. Mexico continues to help the U.S. block migratory flows north—a long-standing bargaining chip. Her domestic popularity also gives her some leverage, but as Carin Zissis of the Council of the Americas observed, “It’s a very delicate balance, because at the same time that she’s handled this relationship so well, so much is at stake for Mexico.”
As Sheinbaum embarks on her tour and steers Mexico through economic, social, and diplomatic challenges, the coming months will test her ability to deliver on her promises—at home and abroad. The stakes, for her government and for Mexico’s place in the region, could hardly be higher.
