During the Bush administration, relations between the two nations were abysmal, with leaders on both sides routinely exchanging insults. But relations seemed to improve at the April summit, where Obama and Chavez exchanged friendly greetings and Chavez presented Obama with a book.
Since taking office, Obama has said he wants "a new beginning" with Latin countries and has pledged to alleviate suspicions and work cooperatively with nations in the region.
Besides taking a friendlier attitude toward Chavez, Obama has eased travel and remittance restrictions on Cuba and promised Brazil that the U.S. would reduce or eliminate tariffs on imports of biofuels. He has also backed away from his strong rhetoric against free trade during last year's presidential campaign, saying he now favors bilateral deals with Panama and Colombia.
Venezuela is the third-largest supplier of crude oil to the United States after Canada and Mexico. U.S.-Venezuelan trade totaled $5 billion last year, most of it Venezuelan oil exports.
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paul.richter@latimes.com
Kraul is a special correspondent.
