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Over the weekend, the United States carried out a military operation in Venezuela to detain Nicolás Maduro and bring him to New York to stand trial on corruption and drug trafficking charges.

• The NAM is closely monitoring these developments. If you have any questions or would like to follow up to discuss the ongoing situation, please contact NAM Vice President of Domestic Policy Chris Phalen at [email protected].

Why it matters: Venezuela plays a significant role in hemispheric energy and industrial supply chains, and its prolonged political instability has disrupted investment, weakened regional economic integration and created uncertainty for manufacturers operating across the Western Hemisphere.

The NAM says: As policymakers assess recent developments, NAM President and CEO Jay Timmons emphasized the importance of a democratic transition for manufacturers and the global economy.

• “The National Association of Manufacturers has long monitored developments in Venezuela because of the profound impact that political instability, authoritarian governance and the erosion of the rule of law have had on manufacturers in the United States and broader U.S. and hemispheric economic interests,” Timmons said in a statement.
• “For years, the Maduro regime—and the Chávez regime before it—has dismantled democratic institutions, violated fundamental rights and undermined legal protections for investment. Manufacturers in the United States have been directly harmed through the expropriation and nationalization of U.S. assets without due process, driving away investment and destroying economic opportunity for the people of Venezuela.”
• “Manufacturers believe that respect for the rule of law, private property and democratic governance is essential to restoring stability and economic growth in Venezuela. A democratic path forward is critical to achieving that outcome.”

The last word: “At this pivotal moment, we urge Congress to engage with the administration on how recent events can serve as a catalyst for a constitutional, democratic transition that restores the rights of the Venezuelan people, respects lawful American investments and lays the foundation for renewed economic opportunity in Venezuela and throughout the Western Hemisphere,” Timmons concluded.