In September 2016, a week after the visit of U.S. Republican Presidential candidate Donald Trump to Mexico City to meet with President Peña Nieto, Videgaray resigned as finance minister.

[6] Emilio Lozoya Austin, former head of PEMEX, accused Videgaray Caso in July 2020 of responsibility for a MXN $52 million bribery scandal related to Odebrecht in 2012-2014.

On September 15, 2005, when Enrique Peña Nieto was sworn in as constitutional governor of the State of Mexico, Luis Videgaray was named Secretary of Finance, Planning and Management, position he had for four years.

He held this legislative seat until March 29, 2011, when he requested a leave of absence to serve as political campaign coordinator for the then candidate for Governor of the State of Mexico, Eruviel Ávila.

Among the proposals approved during his tenure as congressman in the Chamber of Deputies, were:[18] Luis Videgaray requested a leave of absence from his seat in Congress in 2011, to coordinate Eruviel Ávila's campaign for governor of the State of Mexico.

[20] Videgaray led the campaign until its culmination in the elections of July 3, 2012, which resulted in Enrique Peña Nieto being formally declared[21] president-elect of Mexico on 31 August 2012.

After Eruviel Ávila became governor of the State of Mexico, Luis Videgaray was appointed on December 14, 2011 by Enrique Peña Nieto as his campaign coordinator for the 2012 presidential elections.

[25] A few days after Peña Nieto's victory in the presidential elections, he formed a team that would carry out the rapprochement with the different political forces of the country and the preparation towards his inauguration as President.

[26] After that, in September of that year, the president-elect formed a new team of 45 people with aims to easing the transition from the administration of Felipe Calderón Hinojosa to the new government, which would take office on 1 December 2012.

[33] Alongside having a track record of spearheading contentious economic and financial reforms, Videgaray Caso was unable to avoid the political fallout of Enrique Peña Nieto's meeting with Donald Trump, whilst the latter was still the 2016 Republican presidential candidate.

With a weakened peso versus the dollar since the U.S. election[35] and good relations with the incoming U.S. President facilitated in 2016 through Jared Kushner, Videgaray's appointment was deemed by one U.S. publication as "jarring to many in Mexico."

[37] On February 9, 2017, CBS News reported that Mexican officials said Videgaray, with Jared Kushner, helped to rewrite portions of Trump's speech about the U.S.-Mexico border wall, although the White House denied that assertion.

[42][43] On May 11, 2021 Luis Videgaray was sanctioned with a disqualification to take any public role in Mexico for ten years (in Spanish: inhabilitación) by Secretariat of the Civil Service.