Final answer:
The Monroe Doctrine was President Monroe's foreign policy statement warning European nations not to interfere in Latin America. It aimed to protect the newly independent nations in Latin America from European powers seeking to regain control over them. An example of its application is the Roosevelt Corollary, which asserted the U.S. right to intervene in Latin American nations.
Step-by-step explanation:
The foreign policy statement issued by President Monroe, known as the Monroe Doctrine, warned European nations not to interfere in Latin America. The doctrine stated that European colonization or any intervention in independent countries in the Western Hemisphere would not be tolerated by the United States. By declaring this policy, the United States aimed to protect the newly independent nations in Latin America from European powers seeking to regain control over them.
The Monroe Doctrine became an important principle of U.S. foreign policy and reflected the country's desire to assert its influence in the Western Hemisphere and prevent foreign interference. An example of the Monroe Doctrine's application is the Roosevelt Corollary, introduced by President Theodore Roosevelt in 1904. This addition to the doctrine asserted the U.S. right to intervene in Latin American nations to maintain order and protect American interests.