<P> Historically speaking, bilateral relations between the United States and the various countries of Latin America have been multifaceted and complex, at times defined by strong regional cooperation and at others filled with economic and political tension and rivalry . Although relations between the U.S. government and most of Latin America were limited prior to the late 1800s, for most of the past century, the U.S. has unofficially regarded parts of Latin America as within its sphere of influence, and for much of the Cold War (1945 - 1992), actively vied with the Soviet Union for influence in the Western Hemisphere . </P> <P> Today, the ties between the U.S. and most of Latin America (with the exception of certain countries such as Venezuela) are generally cordial, but there remain areas of tension between the two sides . Latin America is the largest foreign supplier of oil to the United States and its fastest - growing trading partner, as well as the largest source of drugs and U.S. immigrants, both documented and otherwise, all of which underline the continually evolving relationship between the two . </P>

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