March 27th, 2026
1. Senate approves “Plan B” for electoral reform with amendments
The Senate approved “Plan B” of the electoral reform proposed by President Claudia Sheinbaum, with 87 votes in favor and 41 against. The approved version does not include the amendment to Article 35 of the Constitution that sought to move the recall referendum to the second or third year of the six-year term, after the reservation filed by the Labor Party was accepted by the full Senate.
The reform establishes the following guidelines: officials of the National Electoral Institute (INE), local electoral bodies, and electoral courts may not earn more than the President of the Republic; the number of council seats in municipal governments is limited (from 7 to a maximum of 15); the annual budget of local congresses may not exceed 0.70% of each state’s expenditure budget; it also includes a gradual 15% reduction in the Senate’s budget, which will begin in 2027 and conclude in 2030. The bill has already been sent to the Chamber of Deputies and referred to committees for review.
Proceso: Senado aprueba el “Plan B” en lo general; se tambalea la reforma a la revocación de mandato
2. More financing agreed upon at the 89th banking convention
The National Banking Convention, organized by the Mexican Banking Association (ABM), concluded with a joint call by the Mexican government and the banking sector to strengthen economic growth through increased financing, digitalization, and investment. During the meeting, President Claudia Sheinbaum asked bankers to increase credit. In this regard, banking executives committed to raising financing for the productive sector from 38% to 45% of GDP by 2030, a commitment that was acknowledged by the President.
Among the key topics was the digitization of the payment system, with agreements to promote platforms such as CoDi and DiMo, reduce the use of cash, and advance digital payments at toll booths, gas stations, and via phone cards. The banking sector considered that government programs, such as Plan México, are heading in the right direction, although it insisted that they must be accompanied by legal certainty and the backing of development banks. At the same time, the need to expand financial inclusion for women and strengthen access to credit for MSMEs was also discussed.
El Economista: Convención Bancaria 2026: Seis temas clave que dominaron el encuentro en su edición 89
Expansión: Los acuerdos de la 89 Convención Bancaria: más financiamiento y certeza jurídica
3. China calls Mexico’s tariffs trade barriers
China’s Ministry of Commerce has concluded a trade investigation into the tariffs approved by the Mexican Congress on products from countries without a free trade agreement (tariffs ranging from 5% to 50% on approximately 1,463 products in sectors such as textiles, aluminum, and plastics). China concluded that these measures “constitute barriers to trade and investment” for its country. According to Beijing, the tariffs approved by the Mexican government could result in losses of $9.4 billion in China’s mechanical and electrical sectors, in addition to affecting exports of metal, chemical, textile, and light industrial products.
In response, Mexico’s Secretary of Economy, Marcelo Ebrard, defended Mexico’s right to impose tariffs, noting that they aim to correct conditions of unequal competition for domestic industry and are not directed against China, but rather against imports that, he said, arrive under conditions that harm local producers.
Aristegui Noticias: China afirma que aranceles de México a sus productos constituyen ‘barreras comerciales’
El Financiero: China ‘reclama’ a México que perderá 9 mil mdd por sus aranceles: ‘Vemos barrera al comercio e inversión’
4. Federal Government unveils program to protect the Heavy-Duty Vehicle Industry
President Claudia Sheinbaum presented the Immediate Action Program for the Protection of the Heavy Vehicle Industry, a strategy aimed at facilitating the renewal and production of buses, tractor-trailers, and cargo trucks. The plan includes an initial investment of 2 billion pesos and, according to the federal government, seeks to safeguard more than 200,000 jobs linked to the sector.
The program is structured around four pillars: tax incentives for the purchase of vehicles produced or assembled in Mexico; the reactivation of a guarantee scheme between the Ministry of Infrastructure, Communications, and Transportation and Nacional Financiera to support truck owners and micro and small transport companies; the creation of a Mexican Official Standard to establish minimum safety requirements for new heavy-duty vehicles; and the updating of estimated prices for the importation of used vehicles. Economy Secretary Marcelo Ebrard explained that the program will allow the purchase of these vehicles to be deducted over one year, rather than four, and that resources will be allocated to stimulate the acquisition of domestically manufactured vehicles.
NMAS Noticias: Ebrard Presenta Programa para Vehículos Pesados: ¿En Qué Consiste? Estos Son los Puntos Clave
MVS Noticias: Sheinbaum presenta Programa de Atención Inmediata para modernizar la industria de vehículos pesados
5. Mexican Government launches the Mexican Supercomputing Program
The Agency for Digital Transformation and Telecommunications announced the launch of the Mexican Supercomputing Program, with an initial phase focused on meteorology and climatology. The launch took place in collaboration with the Barcelona Supercomputing Center, through a research agreement aimed at improving weather forecasts, early warnings, and the analysis of extreme weather events in the country.
The program will use the MareNostrum 5 supercomputer, which will enable Mexico to process millions of climate data points in a matter of hours, rather than weeks. According to the agency, this will allow for an increase in the spatial and temporal resolution of meteorological information, based on the national network of weather stations that has historical records dating back to 1950. This initiative is part of the path toward developing Coatlicue, Mexico’s future supercomputer, which aims to establish itself as the most powerful in Latin America.
El Economista: Gobierno mexicano inicia programa de supercómputo con foco en meteorología
UNO TV: México lanza programa para fortalecer pronósticos del clima