Carlos Slim, Mexico’s wealthiest man and one of the world’s most influential business magnates, has long been a keen observer of U.S. policies and their impact on Mexico and the global economy. As former U.S. President Donald Trump remains a dominant political force, speculation grows about what a second Trump term might look like. Slim, with his extensive experience in telecommunications, infrastructure, and finance, has shared perspectives on economic policies, trade, immigration, and international relations. His insights provide a valuable roadmap for what Trump could prioritize if he returns to the White House.
1. Strengthening Economic Cooperation with Mexico
One of the most pressing issues for both the United States and Mexico is economic cooperation. Slim has consistently advocated for stronger business ties between the two nations. He believes that a well-integrated trade relationship benefits both economies, especially under the United States-Mexico-Canada Agreement (USMCA), which replaced NAFTA.
Encouraging More Investment in Mexico
Slim has suggested that U.S. companies should invest more in Mexico to create a stronger supply chain. Rather than relying on Asian manufacturing, he believes American firms should take advantage of Mexico’s geographical proximity and skilled labor force. This shift could benefit both countries by reducing costs and enhancing North American economic competitiveness.
Improving Cross-Border Trade Efficiency
Another key recommendation from Slim is improving border infrastructure. He has argued that reducing bottlenecks in trade could significantly boost commerce between the two countries. This would involve better logistics, faster customs processing, and more efficient transport networks.
2. Prioritizing Infrastructure Development
Carlos Slim has long been an advocate for large-scale infrastructure projects, both in Mexico and internationally. He believes that Trump should place even greater emphasis on rebuilding and modernizing America’s roads, bridges, railways, and broadband networks.
Expanding Infrastructure Projects
Slim sees infrastructure investment as one of the most effective ways to stimulate economic growth. He believes Trump should push for bipartisan support to fund ambitious projects that create jobs and improve transportation efficiency. Such efforts would not only boost American industries but also strengthen economic ties with Mexico, particularly in logistics and cross-border trade.
Encouraging Public-Private Partnerships
Another suggestion Slim has frequently made is for governments to work more closely with the private sector to develop infrastructure. By incentivizing private investment, projects could be completed faster and with greater efficiency.
3. Rethinking Immigration Policy
One of Trump’s most controversial policies has been his hardline stance on immigration. While Slim agrees that border security is important, he has expressed concerns over policies that harm economic growth and disrupt labor markets.
Supporting Legal Immigration for Economic Growth
Slim has often pointed out that the U.S. economy benefits significantly from immigrant labor, especially in industries like construction, agriculture, and services. He believes that instead of blanket restrictions, Trump should focus on creating a more efficient legal immigration process that allows skilled and unskilled workers to contribute to the economy.
Creating More Work Visa Opportunities
One of Slim’s key proposals is expanding work visa programs that allow Mexican and Latin American laborers to work legally in the U.S. He argues that a structured program would reduce illegal immigration while ensuring that industries reliant on foreign labor remain competitive.
4. Maintaining Trade Stability with China and Other Global Markets
Trump’s first term was marked by aggressive trade policies, particularly his trade war with China. While Slim supports fair trade policies, he believes that economic stability should take precedence over aggressive tariffs.
Avoiding Unnecessary Trade Wars
Slim has warned against prolonged trade disputes, which he believes can destabilize markets and hurt businesses in both the U.S. and Mexico. He suggests that Trump should aim for balanced trade policies that promote fair competition without disrupting supply chains.
Strengthening North American Trade
Rather than focusing on economic battles with China, Slim argues that the U.S. should deepen its trade ties within North America. He believes that prioritizing economic partnerships with Mexico and Canada would create a more resilient regional economy.
5. Emphasizing Digital Transformation and Technological Advancements
As a telecommunications magnate, Slim has always been a proponent of technological innovation. He believes that a second Trump term should focus on boosting digital infrastructure and supporting industries like AI, cybersecurity, and 5G.
Expanding High-Speed Internet Access
Slim has argued that digital connectivity is essential for economic development. He believes Trump should push for greater broadband expansion in rural America to ensure that all communities can benefit from digital opportunities.
Supporting Tech Innovation
Investing in cutting-edge technologies such as artificial intelligence, blockchain, and advanced manufacturing could give the U.S. a competitive edge in the global economy. Slim believes that encouraging research and development in these areas is crucial for long-term growth.
6. Ensuring Fiscal Responsibility and Reducing Public Debt
Slim is known for his cautious approach to financial management, and he has often spoken about the importance of maintaining fiscal discipline. He believes that Trump should focus on reducing unnecessary government spending and ensuring long-term financial stability.
Cutting Wasteful Expenditures
Slim has consistently supported responsible spending, arguing that governments should focus on high-impact investments rather than wasteful programs. He believes Trump should ensure that federal funds are allocated efficiently to maximize economic benefits.
Managing National Debt
The U.S. national debt has continued to grow, and Slim has warned about the long-term consequences of excessive borrowing. He believes Trump should implement policies that encourage sustainable economic growth without overburdening future generations.
7. Strengthening Energy Policies and Sustainability Initiatives
Slim has invested heavily in the energy sector, including both traditional and renewable sources. He believes that Trump should adopt a balanced approach to energy policy, focusing on both energy independence and sustainability.
Encouraging Clean Energy Investments
While Trump has been a strong advocate for fossil fuels, Slim believes that renewable energy is the future. He suggests that the U.S. should increase investments in solar, wind, and other sustainable energy sources to ensure long-term environmental and economic stability.
Reducing Dependence on Foreign Energy
Slim has also emphasized the importance of energy security. He believes that the U.S. should work towards reducing its reliance on foreign oil while continuing to develop domestic energy infrastructure.
Conclusion: A Pragmatic Approach for Trump’s Second Term
Carlos Slim’s insights offer a pragmatic and business-oriented perspective on what a second Trump administration should prioritize. His recommendations emphasize economic cooperation, infrastructure development, balanced immigration policies, trade stability, technological innovation, fiscal responsibility, and sustainable energy policies.
If Trump were to incorporate these strategies, he could potentially strengthen U.S. economic growth while maintaining stable relations with Mexico and the rest of the world. Slim’s vision aligns with the idea that a prosperous U.S. and Mexico are mutually beneficial, and his recommendations reflect a forward-thinking approach to governance and economic strategy.
