Lopez Obrador Declares Victory in Mexican Presidential Election, Peso Falls

Andrés Manuel López Obrador

Modal Trigger Andrés Manuel López Obrador Getty Images

"Congratulations to Andres Manuel López Obrador, the newly elected president of Mexico".

He said that in the phone call, they had touched on a possible trade deal between the United States and Mexico. "There is much to be done that will benefit both the United States and Mexico", Trump said.

Relations between Trump and Lopez Obrador will be closely watched because Trump has regularly criticized Mexico.

"At the appropriate moment, we are going to get in touch, to reach an understanding" with the Trump administration.

"We really aren't thinking about changing the Constitution or major laws", Urzua told Reuters news agency on Monday, insisting that his team's changes at PEMEX would mainly focus on cost-cutting.

It was falsely reported by right-wing media that AMLO called for a massive migration to the U.S. What he said was that he would defend the human rights of Mexicans in the U.S.

Lopez Obrador is estimated to have won between 53 and 59 percent of the vote. Ricardo Anaya, leader of a right-left coalition, had 27 percent and Jose Antonio Meade, the candidate of the incumbent PRI party, was on 18 percent. In his first loss - by a mere 0.56 percent to conservative Felipe Calderon in 2006 - his supporters held months-long protests in Mexico City and he referred to himself as "the legitimate president".

Once results showed his margin of victory on Sunday, and mindful of accusations that his instincts cleave toward authoritarianism, Lopez Obrador quickly sought to calm nerves about his presidency. Credit agency Finch also warned that the election would bring prolonged uncertainty over the future of the oil industry.

He said contracts obtained under energy reforms passed under President Enrique Pena Nieto will be scrutinized for any corruption or illegality, but otherwise contracts will be honored. Investors have always been expecting a victory by Lopez Obrador, who held double-digit leads in polls for months.

Lopez Obrador struck a conciliatory tone in an acceptance speech Sunday night, saying he would pursue fiscal discipline and respect the independence of Mexico's central bank.

Lopez Obrador is a twice-spurned populist whose supporters hope he will deliver on promises to clean up corruption, reign in spiraling violence and lift millions out of poverty.

Amid widespread frustrations with the status quo, all of the candidates have tried to paint themselves as the agent of real change.

The President-elect said he would forge a new relationship with the U.S. "rooted in mutual respect and in defence of our migrant countrymen who work and live honestly in that country". In the event that President Trump continues his harmful and hurtful rhetoric and policies against Mexico and Mexicans, AMLO will have no choice but to take a strong stance. And efforts to update the North American Trade Agreement have stalled, raising concerns that negotiations could drag into next year. That is a much higher percentage than his closest competitors - and a level of public support not seen in Mexico for more than 30 years.

"If they do, we're going to be living in a dictatorship", Felix said in the report.

Lopez Obrador vows to improve Mexicans' lives by ending corruption and years of drug violence, while also reducing the wealth gap.

Lopez Obrador said he will propose that his own experts be included in the talks, but will respect Mexico's current negotiating team as they continue to represent Mexico until he takes office December 1.

Latest News