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Mexico's President Sheinbaum Unveils 'Plan México' to Reach Top 10 Global Economies by 2030, Amid $277 Billion Investment and 25% Tariff Threat

Jan 13, 2025, 06:37 PM

Mexican President Claudia Sheinbaum unveiled the 'Plan México', a comprehensive economic strategy aimed at positioning Mexico among the top 10 global economies by the end of her term in 2030. The plan, presented at the National Museum of Anthropology, involves a collaborative effort between the Mexican government and the private sector to attract investments and stimulate national growth during her 2024-2030 term. Sheinbaum announced that the strategy has identified investments totaling $277 billion, spread across 2,000 projects, targeting key sectors such as textiles, pharmaceuticals, medical devices, agriculture, semiconductors, automotive, electric mobility, chemicals, petrochemicals, consumer goods, and aerospace. The plan includes goals to increase public and private investment above 25% of GDP starting in 2026 and over 28% by 2030, generate 1.5 million additional jobs in specialized manufacturing and other strategic areas, and enhance national content in global supply chains by 15% in industries like automotive, aerospace, electronics, semiconductors, pharmaceuticals, and chemicals. Additionally, the strategy aims to ensure that 50% of national supply and consumption in strategic sectors are of Mexican origin, and half of public procurement will be sourced domestically. The announcement comes ahead of Donald Trump's inauguration as U.S. President, who has threatened to impose 25% tariffs on Mexican products.