WSJ What's News: Venezuela Signals Trump’s New Vision for the Western Hemisphere

Date: January 5, 2026
Host: Alex Osolleff (The Wall Street Journal)
Key Guests: Jeff Ramsey (Atlantic Council), David Uberti (WSJ Markets), Chris Otz (WSJ Autos)

Episode Overview

This episode explores the seismic geopolitical shift following the arrest of ousted Venezuelan President Nicolas Maduro and examines how the Trump administration’s bold actions in Venezuela signal a newly assertive U.S. policy, dubbed the “Don Roe Doctrine,” throughout the Western Hemisphere. The episode also covers implications for U.S. relations with Cuba and Greenland, market reactions—especially within the oil sector—and touches on significant domestic news involving automakers and a major change to CDC vaccine recommendations.

Key Discussion Points & Insights

1. Maduro’s Arrest and International Fallout

[00:43–02:02]

• Nicolas Maduro made his first appearance before a U.S. federal court, pleading not guilty to narcotrafficking charges, and proclaimed himself a “prisoner of war who had been kidnapped.”
  • “I am still the president... a prisoner of war who had been kidnapped.” (paraphrased)
• The event is unprecedented: a sitting foreign leader facing such charges in U.S. court.
• Venezuelan Government appealed to the U.N., calling for condemnation of the “kidnapping.”
  • Russia and China criticized U.S. actions and called for Maduro’s release.
• U.S. stance: Removal of Maduro described as a legitimate law enforcement operation.
• Geopolitical signal: This marks a starkly assertive U.S. strategy under President Trump, shifting the Western Hemisphere’s balance.

2. The “Don Roe Doctrine” – Trump’s New Foreign Policy

[02:08–06:08]

• President Trump rebrands the Monroe Doctrine as the “Don Roe Doctrine.”
  • [02:08] Donald Trump:
    “The Monroe Doctrine is a big deal, but we’ve superseded it by a lot, by a real lot. They now call it the Don Roe Doctrine.”
• Trump threatens direct action in other countries, including Colombia and Cuba, and suggests U.S. control over Greenland for national security.
  • [02:32] Donald Trump:
    “Cuba looks like it’s ready to fall. I don’t know how if they can hold out, but Cuba now has no income… They got all of their income from Venezuela, from the Venezuelan oil. They’re not getting any of it.”
• Denmark sharply rebuked the U.S. ambition regarding Greenland.
• [03:13] Donald Trump:
  “The future will be determined by the ability to protect commerce and territory and resources that are core to national security.”

Expert Insight: Jeff Ramsey, Atlantic Council

[03:28–06:08]

• Most aggressive update to the Monroe Doctrine in decades: “The ability of the United States to project its influence more aggressively across the Western Hemisphere.”
• Strategy is shaped by new National Security Strategy: Aimed at countering growing influence of Russia, China, Iran.
• “The president has left the door open to potential interventions in Colombia, Cuba, Mexico and others.”
  • [03:28] Jeff Ramsey:
    “This is an administration that’s willing to go farther than any other recent administration in history to secure U.S. interests.”
• Not a full-scale return to “gunboat diplomacy,” but much harder diplomatic, economic, and potential military pressure.
  • [04:49] Jeff Ramsey:
    “I don’t think we’re likely to see the US invade and occupy any countries in our hemisphere, particularly because this is an administration that prefers a light footprint.”
• Risks: Venezuela’s instability, presence of armed groups, risk of internal conflict that could spill across the region.
  • [05:12] Jeff Ramsey:
    “If Venezuela devolves into some kind of a leadership vacuum, you really could envision a protracted internal armed conflict…”

3. Oil Markets & Venezuela

[06:12–07:41]

• Chevron’s stock jumps as prospects improve for reviving operations in Venezuela.
  • [06:28] David Uberti:
    “Chevron… tend[s] to see Chevron as standing to benefit the most… Just by virtue of them being in the country right now, they have sort of navigated the Venezuelan political and economic crisis…”
• U.S. drillers (Chevron, Exxon) may not immediately ramp up investments: “Price of oil is quite cheap… an impediment to companies deciding whether they want to come in.” (David Uberti)
• Key opportunity for U.S. Gulf Coast refineries if more Venezuelan crude becomes available, as Venezuelan oil suits U.S. refineries.

4. Other Major Headlines

a. U.S. Politics: Tim Walz Drops Re-Election Amid Scandal

[08:40–09:20]

• Tim Walz (Democratic vice-presidential nominee, 2024; Minnesota governor) steps out of re-election due to a welfare fraud scandal.
  • [09:00] Tim Walz:
    “Every minute that I spend defending my own political interest would be a minute I can’t spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who want to prey on our differences.”
• Minnesota Senator Amy Klobuchar is rumored to be considering a run for the governor’s seat.

b. U.S. Automaker Slump & Industry Outlook

[09:20–10:52]

• General Motors, Honda, Hyundai, and Mazda report sales declines at the end of 2025; Toyota and Stellantis rise.
• Industry expects total U.S. auto sales to fall after three years of gains.
  • Rising costs (tariffs, insurance, repair & maintenance) and high loan interest rates are pressuring sales.
  • [09:51] Chris Otz:
    “Prices have been rising a lot over the last five years. Insurance costs are especially high, and there are other costs associated, like repair and maintenance, that have gone up faster than inflation. So the overall picture for new car purchases is pretty challenging right now.”

c. Major CDC Change: Vaccine Recommendations

[10:52–11:42]

• The CDC narrows its recommended childhood vaccines: dropping from 17 to 11.
• No longer universally recommended: rotavirus, COVID-19, influenza, meningococcal, hepatitis A & B.
• Decisions to vaccinate shifted more to parents and healthcare providers; recommendations still influence state law and insurance.
  • “Instead, the CDC says decisions should be made by parents and healthcare providers in the US.” (Host, paraphrased)

Memorable Quotes & Moments

• [02:08] President Trump:
  "The Monroe Doctrine is a big deal, but we’ve superseded it by a lot, by a real lot. They now call it the Don Roe Doctrine."

• [03:28] Jeff Ramsey:
  “This is the biggest update to the Monroe Doctrine we’ve seen in years… the United States to project its influence more aggressively across the entire Western Hemisphere.”

• [05:12] Jeff Ramsey:
  “You really could envision a protracted internal armed conflict which could impact not just US interests, but also other governments in the region and ultimately affect regional stability and security.”

• [06:28] David Uberti:
  “Chevron… tending to see Chevron as standing to benefit the most compared to any other US oil company operating today, just by virtue of them being in the country right now.”

• [09:00] Tim Walz:
  “Every minute that I spend defending my own political interest would be a minute I can't spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who want to prey on our differences.”

Timestamps for Important Segments

• 00:43 — Maduro’s U.S. court appearance & international reaction
• 02:08 — Trump introduces the “Don Roe Doctrine”
• 03:28–06:08 — Jeff Ramsey on the doctrine’s geopolitical implications and risks
• 06:12–07:41 — Oil market reaction, Chevron in Venezuela, outlook for U.S. energy
• 08:40 — Governor Tim Walz exits Minnesota reelection, fallout
• 09:20 — U.S. automakers’ 2026 prospects and market trends
• 10:52 — CDC cuts recommended childhood vaccines; policy debate

Conclusion

This episode delivers a concise yet deeply informative analysis of a pivotal moment in Western Hemisphere politics, signaled by Maduro’s arrest and the Trump administration’s aggressive new posture—now branded the “Don Roe Doctrine.” Expert commentary contextualizes the stakes for regional stability, U.S. business interests—especially in oil—and anticipates global ramifications. The show rounds out with rapid coverage of significant U.S. domestic political and regulatory developments, painting a portrait of a moment marked by volatility and high geopolitical stakes.