Monday, May 04, 2026

Trump's Venezuela Honeymoon is Collapsing

I hope no one is surprised at this, but Donald Trump's honeymoon in Venezuela is collapsing. In February his approval was 82.9%, which slide to 74.% in March and then 47% in April. The explanation is very simple. Venezuelans overwhelmingly wanted Nicolás Maduro out but there is broad expectation of democratization, which isn't happening, and economic benefits, which also aren't happening. Venezuela remains a dictatorship with an economy in tatters.

To the extent he thinks about it at all, I would guess Trump figures that rejuvenating the oil industry will spread wealth around. But of course there is not reason to assume that when the government is so corrupt. But he praises Rodríguez while the Venezuelan people want--and deserve!--to choose their own leaders. Maduro lost the last election so her rule is entirely illegitimate.

Nationalism will emerge at some point, though I can't hazard a guess as to when. People are benefiting from Venezuelan oil and it's not the vast majority of Venezuelans. The leader of the opposition and the true winner of the last presidential election is not back in the country. A lot has changed but too much has stayed the same.

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