Trump administration officials have consistently prioritized stability and energy-sector cooperation with interim Venezuelan President Delcy Rodríguez over backing opposition leader María Corina Machado for the presidency. President Trump has publicly stated that Machado lacks sufficient domestic support or respect to lead effectively, opting instead for a phased transition involving Rodríguez that includes major oil development agreements. U.S. policymakers have repeatedly discouraged Machado’s return from exile, including after recent earthquakes, citing security risks and viewing her efforts as potential distractions. Machado has continued to praise Trump and advocate for free elections, including support for a proposed 2027 vote, yet these overtures have not altered the administration’s approach. This alignment with Rodríguez and emphasis on pragmatic engagement over opposition endorsement underpin the strong trader consensus against a Trump endorsement.