A $22 billion deal involving Panama Canal ports is underway, initiated by President Trump’s declaration regarding US control over the canal. CK Hutchison, a Hong Kong firm, is selling its stakes to a BlackRock-led American consortium, pending approval from Panamanian authorities. President Mulino challenges Trump’s claims, stressing Panama’s sovereignty and ongoing diplomatic cooperation.
A significant $22 billion deal concerning the Panama Canal has emerged, following President Donald Trump’s controversial comments about American control over the waterway. A Hong Kong-based company, CK Hutchison, has decided to sell its interests in critical canal ports to an American consortium led by BlackRock. This transaction highlights the tensions between US-China relations regarding the management of key international infrastructures.
CK Hutchison, operational under China’s financial regulations and founded by Li Ka-shing, oversees essential ports at both the Atlantic and Pacific entrances to the canal. The agreement involves 43 ports in 23 nations, especially focusing on critical Panama Canal locations. However, finalization of this transaction requires approval from Panamanian authorities.
During his inaugural speech, President Trump asserted, “China is operating the Panama Canal. And we didn’t give it to China. We gave it to Panama, and we’re taking it back.” Meanwhile, US Secretary of State Marco Rubio, in Panama, emphasized the need for immediate actions to limit China’s influence over the canal.
Contrarily, Panamanian President Jose Raul Mulino condemned Trump’s assertions as misleading and emphasized the sovereignty of Panama, stating, “In the name of Panama and all Panamanians, I reject this affront to the truth and our dignity as a nation.” He further clarified that the Panama Canal is not up for reclamation and that cooperation between the two countries should focus on mutual interests, free from any claims threatening national sovereignty.
In summary, the potential sale of Panama Canal port stakes highlights the ongoing geopolitical tensions between the United States and China concerning infrastructure control. President Trump’s statements spurred significant reactions from both sides, particularly from Panama’s leadership stressing their sovereignty. The deal’s success remains contingent on formal approval from Panamanian officials, amid broader discussions about international control and national dignity.
Original Source: www.the-express.com
