Trump has repeatedly distanced himself from endorsing María Corina Machado for Venezuela’s 2026 presidential race. After the January 2026 U.S. operation that removed Nicolás Maduro, the president publicly questioned her domestic support and instead recognized acting President Delcy Rodríguez as the preferred interim leader. Administration officials have since advised Machado against returning from exile, citing security risks, and rejected her recent offers to assist with earthquake recovery as distractions. Machado has maintained public praise for Trump and U.S. policy while declaring her candidacy, yet these overtures have not altered the administration’s preference for working with Rodríguez or produced any signals of forthcoming endorsement. These consistent positions underpin trader expectations that no endorsement will occur.