Lazaro Cardenas | Cardenas nationalized Mexico's oil industry in 1938. The move was seen as a way to gain economic independence and became the first test of FDR's Good Neighbor Policy. The U.S. sought settle the division over American oil companies in Mexico in 1940 because of the Nazi threat in Europe.
PRESIDENT FRANKLIN D. ROOSEVELT signs the "Neutrality Act", or Senate Joint Resolution No. 173, which he calls an "expression of the desire...to avoid any action which might involve [the U.S.] in war." The signing came at a time when newly installed fascist governments in Europe were beginning to beat the drums of war. In a public statement that day, Roosevelt said . . . . - -August 31, 1935 (SEE: http://www.history.com/this-day-in-history/fdr-signs-neutrality-act.)
Franklin D. Roosevelt Receives Pan American Award for his Good Neighbor Policy; President Franklin D. Roosevlet was presented an award by the Pan American Society for his Good Neighbor Policy. The Roosevelt Administration embraced a non-interventionalist foreign policy with Latin America in the hopes to encourage reciprocal trade with these nations, and to prevent an alliance between Latin American nations and the Nazis.
Diplomacy Map-These are the territories that once resented the U.S. and their constant interventions in Latin American affairs. After the Good Neighbor Policy was in effect, this resentment lessened and the relationship was much better.
War Resources Map-The United States and the rest of the Allies benefited greatly from the additional resources that they received from Latin American countries. Many Latin American countries were in full support of U.S. ideals and the war effort.