Mexico's Judicial Reform Will Not Violate USMCA, Says President-elect Sheinbaum
In a bold move, Mexico's government is planning a judicial reform that will not violate its commitments with the United States–Mexico–Canada Agreement (USMCA), according to President-elect Claudia Sheinbaum. The controversial reform, set for a vote in September, aims to ensure that judges, including all Supreme Court justices, are elected through a popular vote.
Sheinbaum, who is set to take office in October, has stood by outgoing President Andres Manuel Lopez Obrador's judicial proposal, stating that she agrees judges should be elected. However, Mexico's federal judiciary workers have been on strike for the past three days in protest of the reform.
The proposed reforms have sent shockwaves through the markets, with concerns leading to a more than 2% weakening of Mexico's peso by midday on Wednesday.
In conclusion, the upcoming judicial reform in Mexico could have significant implications for the country's legal system and political landscape. Investors and individuals with financial interests in Mexico should closely monitor the situation and consider potential impacts on their portfolios. It is essential to stay informed and seek guidance from financial experts to make informed decisions in light of these developments.