Batman Fever, Morena Cracks & AMLO Returns
Mexico Decoded's weekly briefing makes sense of the news that matters
1. AMLO Comes Out of Retirement
Former Mexican President López Obrador resurfaced this weekend to rally supporters to deposit money into a Mexican bank account allegedly aimed at sending humanitarian aid to Cuba, amidst growing tensions between the Caribbean island and the US.
DECODED: Unlike Sheinbaum, who faces the restraint of being Mexican head of State, AMLO can do a direct call to action without worrying about provoking Donald Trump’s wrath. However, his attitude does place the current President in a tight spot as T-MEC negotiations are underway.
2. Government Coalition Shows Fractures
The original Electoral Reform presented by Sheinbaum was shut down in the Mexican Congress, facing rejection even from her government’s allies, PT and PVEM. The President opted for a “Plan B”, which is backed by her coalition, but discarded the most polemic proposals: reducing funding for political parties and changing the proportional representation system.
DECODED: Morena was unable to reach the votes needed to pass the original Electoral Reform, which shows the official party has weakened in the coalition while its allies have gained strength. This is key for the 2027 federal elections, in which the Chamber of Deputies and some state governors will be up for grabs.
3. Mexico’s Trade Gap Narrows
Mexico’s trade surplus with the US dropped 20% during the first month of 2026, compared to the same month in 2025, totaling 10.9 billion USD. This is the biggest drop registered since 2009, excluding the pandemic period.
DECODED: The narrowing trade surplus is driven by a surge in Mexican imports of U.S. goods, even as exports to the U.S. also rose. With the dollar weaker, Mexican products are becoming more competitive abroad, boosting export volumes.
4. Secretary of Public Security Appears On... Towels
Mexican Security Secretary, Omar Garcia Harfuch, has become an unexpected heartthrob, particularly among women. Markets now sell towels, dolls, blankets, and even cardboard cut-outs of him (shirtless or as Batman), as vendors capitalize on his rising popularity.
DECODED: Harfuch’s merchandising campaign points to a growing popularity that could result in a Presidential candidacy in 2030. This wouldn’t be the first time a male political figure has risen due to his appearance. This happened in 2012 with former President Peña Nieto.
5. Mexico Becomes Older
The number of working Mexicans between the ages of 15 and 24 years is expected to decline in absolute terms during 2026. The country’s demographic shows an increase in the population aged 65+, growing by about 800k people annually.
DECODED: Companies may have to adapt to employing and retaining older workers, and compete against informal work schemes which offer more flexibility and daily pay. Some solutions, said Adecco, are using IA for talent recruitment and offering on-demand wages.