Mexico Matters

In this episode, Mariana speaks with counter-terrorism and Middle East expert Dan Byman to dissect the current state of the US-Iran conflict and its potential impact on the upcoming North American World Cup 2026. They analyze Iran’s increased deterrence positioning with the closure of the Strait of Hormuz, their use of asymmetric warfare, and lay potentials scenarios to explain Iran’s current terrorism restraint.  Is it a sign of incapacity or strategic pause?  They also discuss the importance for the Iran’s soccer players to participate in the sporting tournament,ent and the risks it implies from a security and diplomatic perspective.  They discuss why Mexico can be a security “soft spot” as the country maintains diplomatic ties with Teheran, and the bigger challenges posed by a lone person attack.

In this episode, Mariana speaks with Adolfo Babatz, Founder and CEO of Clip, the company that transformed the Mexican streetscape by not only putting a payment terminal into the hands of micro-merchants but also by offering them financial services to help them become more efficient to survive. 

They discuss the structural issues blocking Mexico’s fintech revolution and digital currency adoption. They also explore what other countries like Brazil and India have done to reduce the attractiveness of cash, the impact of AI on Clip and Latin America, and which model will  the region follow: the “Super App” model of China, or the fragmented, specialized approach of the U.S.  

Lastly, they touch upon Adolfo’s personal qualities and his mission to bridge the socioeconomic gap between the banked and unbanked merchants.

Note: This episode was recorded on February 17th, 2026, before the death of Mexican cartel leader “El Mencho.” 

In this episode, Mariana speaks with Jorge Castaneda, a Mexican politician and academic who served as Secretary of State from 2000 to 2003. 

They discuss President Trump’s high-pressure stance toward Mexico and how President Sheinbaum has thus far been able to navigate his demands while avoiding a face-to-face meeting. They also explore the on-the-ground realities behind President Trump’s claims that Mexican trafficking organizations are allied with the government, the recent shifts in Mexico's security strategy, and the risks of a unilateral U.S. incursion.

Finally, the conversation turns to the broader region, examining the likelihood of regime change in Cuba, the evolving situation in Venezuela, and the anticipated pushback to the new "Don-Roe Doctrine" in South America. 

As these nations increasingly depend on China as a primary market for commodities and a major source of foreign direct investment, the tension between U.S. hemispheric policy and global economic realities has never been higher.

In this episode, Mariana speaks with Alan Stoga, former partner of Henry Kissinger and Chairman of the Tallberg Foundations, about the historical consequences of the Trump presidency, how the world we grow up in is morphing, and what is likely to be America’s role in this new world. 

They also discuss how countries like Mexico will not only have to learn how to adapt to this new context but also recognize that President Trump will not shy away from merging economic, commercial, military and security tools to achieve his desired outcomes.  Lastly, they discern how the Don-Roe Doctrine is different (or similar) to the traditional U.S. approach towards Latin America, and how, in this context, China's presence in the Americas might be challenged.

In this episode, Mariana speaks with Juan Pablo Spinetto, an opinion columnist at Bloomberg covering Latin America business, economic affairs and politics, about President Claudia Sheinbaum’s first year in office.

They discuss the differences in her style and policies from her predecessor, the popularity and sustainability of her government’s entitlements, and the biggest challenges she and Mexico will face in 2026, particularly when renewing (or renegotiating with President Trump) the North American Free Trade Agreement (USMCA). 

They also talk about the rationale behind Mexico’s recent imposition of a 50% tariff on 1,400 goods coming from China and other Asia countries and the potential short term impact these tariffs might have on Mexican consumers and manufacturers. 

Lastly, the touch upon the current U.S. military build up in the Caribbean and the economic pressure the U.S. is currently imposing on the Venezuelan regime, as well as the geopolitical risks in the region of a U.S. intervention.