**Trump has publicly distanced himself from endorsing María Corina Machado as Venezuela’s next president, citing insufficient domestic support and prioritizing stability through ties with acting President Delcy Rodríguez.** Following the U.S. operation that removed Nicolás Maduro in January 2026, Trump stated that Machado “doesn’t have the support within or the respect within the country” to lead, describing her potential role as “very tough.” He later advised her directly against returning amid security concerns, while the administration criticized her efforts as “political opportunism” during earthquake relief. Machado met Trump multiple times, including to present her Nobel Peace Prize medal, and has consistently praised his role in the transition. However, Washington has backed Rodríguez for stabilization, oil-sector cooperation, and phased talks toward elections, sidelining Machado from negotiations. Recent developments through mid-2026, including ongoing U.S.-supervised dialogue excluding her leadership, have reinforced this positioning. Traders see little prospect of a formal endorsement before year-end given these consistent signals and competing priorities.