America’s foreign policy appears to have been turned upside down. In the Middle East and Far East, which have consumed most of America’s defence planning energy over the last few decades, trade wars and diplomatic negotiations have replaced shows of military power. Meanwhile, the US is stockpiling both materiel and manpower off the shores of South America to a degree unseen in many decades.
As of this week, the US had positioned 10 F-35 fighter jets in Puerto Rico, along with three MQ-9 reaper drones. More than 4,500 Marines and sailors have taken up residence at US Southern Command in Miami, Florida. Last week, President Trump publicly announced that he was authorising CIA covert operations in Venezuela, and a group of B-52 bombers flew near Venezuela’s coast. More than five suspected drug ships, some originating in Venezuela, have been interdicted and destroyed by US forces over recent weeks.
To many in the foreign policy establishment, Trump’s fixation on squeezing Venezuelan dictator Nicolás Maduro has been an enigma. He has justified the buildup on the grounds that Maduro’s regime harbours drug producers and distributors. But when Maduro has tried to satisfy Trump — even accepting planeloads of deported Venezuelan nationals from America — Trump has rebuffed him and redoubled US pressure. Perplexed analysts are asking: what exactly is Trump trying to achieve, if nothing Maduro can offer will please him? Where can this lead except to war or a humiliating walk-back?
This reveals a fundamental misunderstanding between the Trump administration and the foreign policy establishment. Rather than focusing on the near-term risks of war in Venezuela, Trump is asking a higher-order question: What is the point of being a superpower if you can’t stop your neighbours from sneaking deadly drugs and unapproved migrants across your borders?
In Trump’s understanding, security begins at home, and then extends to the near-abroad. When weak or corrupt leaders nearby threaten the stability of the US, they must be either forced to change their behaviour, or they must be replaced. This has not been US policy for several decades, but for most of the 20th century, it was. The name of this policy was the Roosevelt Corollary to the Monroe Doctrine. What Trump is signalling in Venezuela is that the Roosevelt Corollary is back.
President Theodore Roosevelt announced the Corollary in 1904 in his Annual Address to Congress. Since the presidency of James Monroe a century earlier, it had been American policy to oppose any new colonisation or subjugation of lands in the Western Hemisphere by European powers. Monroe’s policy did not, however, provide a road map for when European countries sent ships into America’s backyard to collect debts or fight wars, as occurred during the British, Italian and German blockade of Venezuela in 1902. Determined to keep European warships out of America’s near-abroad, Roosevelt declared that US policy would be to have a monopoly over policing power in the Western seas. He further declared that it was no longer the sole purpose of the Monroe Doctrine to keep Europe out of our near-abroad; the doctrine would also now be used to protect American interests more generally. He explained: “It is always possible that wrong actions toward this nation or toward citizens of this nation… may result in our having to take action to protect our rights; but such action will not be taken with a view to territorial aggression, and it will be taken at all only with extreme reluctance.”
During the ensuing decades, the Roosevelt Corollary was periodically called upon to reestablish order in Latin American war zones and to prevent the accession of regimes dedicated to, in Roosevelt’s words, “wronging” the US. The Corollary underlay the brief US occupation of Cuba, from 1906-1909, after the Spanish-American War, two occupations of the chronically unstable Dominican Republic, and support for the Contras against the Sandinistas in Nicaragua. It also inspired the CIA-supported overthrows of Guatemalan President Jacobo Árbenz following his nationalisation of United Fruit Company lands, and of Chilean President Salvador Allende as he led that country’s mining-based economy into ruin. It was also behind America’s futile efforts — through an embargo, assassination attempts, and the failed Bay of Pigs invasion — to topple Cuban communist dictator Fidel Castro.
America’s failure to overthrow Castro, coupled with the relative untouchability of many Soviet-allied Latin regimes during the Cold War period, caused the Roosevelt Corollary to fall into disuse. The liberal internationalist order that followed the Cold War further discouraged the use of hard power to overthrow regimes hostile to American interests. But in 2025, the Trump Administration seems determined to bring it back.
Within the Roosevelt Corollary (or, as I’ve been told it’s referred to within the administration, “Neo-Monroe Doctrine”) framework, some of Trump’s harder-to-figure foreign policy actions begin to make more sense. One of these is the appointment of Cuban-American Florida Senator Marco Rubio as Secretary of State, which was perplexing alongside Trump’s more provocative foreign policy nominations of Pete Hegseth and Tulsi Gabbard. But when one considers Rubio’s knowledge of Latin America and his hawkish record on Latin American dictators in the context of the Roosevelt Corollary agenda, he fits perfectly.
Then there are Trump’s recent actions toward Argentina and Colombia, both of which would have seemed peculiarly drastic in past administrations, but represent a return to a Rooseveltian approach to doing business. For Argentine President Javier Milei, a libertarian friend of the US who faces a fiscal crunch at home, Trump recently structured a $40 billion loan package and floated a huge purchase of Argentine beef, much to the chagrin of American cattle ranchers. Colombian socialist President Gustavo Petro, on the other hand, faced a cutoff of all American aid (Colombia has received $14 billion in aid since 2000) due to his failure to address Colombian drug trafficking. In a Rooseveltian world, the President wields plenty of carrots and a big stick.
“What Trump is signalling in Venezuela is that the Roosevelt Corollary is back.”
In order to understand how Trump’s Roosevelt Corollary framework applies to Venezuela, we must first consider the state of the country today. Maduro’s Venezuela is a shambles by every possible metric: aside from its ruler’s personal security. Owing to a combination of mismanagement and corruption, Venezuela, once the wealthiest nation in Latin America, is now an economic basket case. Its economy is projected to contract by 3% this year, and inflation is at 682%. Venezuelan oil exports — the foundation of its economy — have declined by two thirds since 2012. As living standards and safety across the country have plummeted, nearly 30% of Venezuelans have left over the last 10 years, mostly for neighbouring Colombia, but many for the US (both legally and illegally).
Even with a hostile third of the country now gone, Maduro still received fewer votes for president than opposition candidate Edmundo González in last year’s election. While international organisations urged him to accept defeat, he declared victory and began a third term in office. Opposition leader María Corina Machado, whose exit polling efforts demonstrated that Maduro’s reelection was rigged, was awarded the Nobel Peace Prize for her efforts to fight the regime.
Yet while Maduro may be the world’s least legitimate leader, his position within Venezuela is still secure. As centuries of Latin American history have shown, military loyalty is the single most important requisite for regime security in the region. And while Maduro may have little else, he has that. As the Wall Street Journal has shown, Maduro has successfully “surrounded himself with a fortress of lieutenants whose fortunes and future are tied to his”. He has done this by imprisoning or exiling the disloyal, while encouraging the loyal to accept patronage jobs in state-run companies or payoffs from drug-traffickers to allow their shipments to pass. The result is a military that is just as fearful for the personal ramifications of regime failure as Maduro is himself. And in case Maduro’s reign of blackmail were to fail, there are Cuban counterintelligence officials and other paid spies installed in the ranks to detect any hint of insurrection. According to Edward Rodríguez, a defected former Venezuelan army colonel, snitching is richly rewarded with “jobs, money, cars and even homes” in a country where much of the population cannot consistently afford food.
With the government preoccupied by personal security and self-enrichment, it will surprise few that much of the official territory of Venezuela (precisely how much is unknown) is no longer under government control. Much of western Venezuela is controlled by Colombian drug-running and human-trafficking organisations like the National Liberation Army. And much of southern Venezuela is given over to feuding megabandas or organised crime rings — most infamously the gang Tren de Aragua, recently designated a foreign terrorist organisation by the US. The megabandas have outposts in Venezuela’s major cities, and all around the world, including in the US. One reason for Venezuela’s declining exports is that large parts of its major extractive industries — particularly mining — have been taken over by criminal enterprises whose activities occur off the books. These organisations control territory in the Orinoco Mining Arc in Venezuela’s southeast, where many of their mines are located.
Since Trump’s pressure campaign, Maduro has pumped out propaganda to recruit a citizen militia that can bolster the country’s depleted military. According to the Wall Street Journal, “on state television, radio and social media, announcers are telling Venezuelans that the U.S. is a rapacious Nazi-like state that wants to dig its claws into the country’s oil wealth but that the Venezuelan military, the National Bolivarian Armed Forces, are positioning to repel any invasion”. Maduro’s army currently numbers about 125,000 — a combination of military regulars and new recruits, so many of whom are above typical military age that they have been dubbed a “Dad’s Army” in the British press. According to recent reporting, the army is underfed, under-resourced, and has suffered from a significant brain-drain due to Maduro’s loyalty tests. Maduro reportedly also plans, in the event of invasion, on having the support of Colombia’s National Liberation Army — the least it can do for Caracas’ salutary neglect of its drug and human smuggling (whether before or after he delivers to Trump his proof that there’s no drug trafficking in Venezuela, one can only guess).
For the US, this all adds up to a puzzle: the Maduro regime’s continued existence directly hurts American interests, but the regime has hollowed out Venezuelan society and institutions to such a degree that regime change will probably result in further chaos, and very possibly a civil war — outcomes that also hurt American interests.
Trump has likely still concluded that regime change would help the US, but that to be effective, the muscle behind it will need to come from inside Venezuela itself. His military buildup is therefore an effort to pressure fence-sitters inside Venezuela’s military and underground political opposition (a group that still includes Machado herself) to provide that muscle. Perhaps if military brass begins to see that the Maduro regime’s days are numbered, their calculus on how best to preserve their own lives and careers will shift. There is also an outside chance that a skirmish with US forces, and a glimpse of the untenability of his position, might convince Maduro to resign or flee.
For the time being, direct covert action against Maduro’s person seems to be off the table. Ironically, we know this because of Trump’s highly irregular decision to broadcast his authorisation of CIA covert action to the world — meaning it would no longer be, well, covert. Trump’s threat of covert action, rather, functions as a nuclear bomb of psychological warfare, ensuring that every night for the foreseeable future, Maduro dreams of exploding cigars. Far more likely is covert action that assists in forming and resourcing opposition parties or militias, as the US has done in past Latin American revolutions. Conventional military strikes on Venezuela are possible, but would need to be provoked. Conventional forces could also be deployed in ungoverned spaces against drug-traffickers, further underlining the impotence of the Maduro regime.
Where the Trump-Maduro standoff goes from here is hard to know. But the reasoning behind the buildup is abundantly clear, and it goes far beyond Venezuela’s drug distribution or human trafficking. It is a signal to the world, and to Latin America in particular, that American policy toward the Americas has changed. More precisely, it’s changed back from a policy of salutary neglect to an active posture in which American interests are stridently defended. As in the days of the Roosevelt Corollary, America will help its friends and hamper its foes. If a Latin American regime harms American interests, and regime change will improve the situation, America will not hesitate to effect its overthrow.
Venezuela resonates particularly with the original purpose of the Monroe Doctrine, which was to preclude European incursion into American waters. Venezuela is a long-term strategic partner of China, which relies heavily on Venezuelan oil and offers economic and political support to Venezuela internationally. Even as Venezuela has descended into ruin over the last few years, it has continued to serve as a beachhead for Chinese influence in America’s backyard. Just as President Monroe’s original doctrine intended to keep hostile foreign interference far away from American waters, President Trump’s updated Monroe Doctrine can do the same for America’s 21st-century threats.
Trump is likely gambling on the fact that Maduro’s fall would be universally popular. The rest of the world has watched in horror over the last several decades as Maduro and predecessor Hugo Chávez plunged their country into poverty and chaos. This means that if US pressure results in Maduro’s overthrow, Trump’s new Roosevelt Corollary will start out in the win column in the court of international public opinion. Whether the US stays in that column as it addresses challenges in Colombia, Peru and Argentina, only time will tell.
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