A $22 billion deal for Panama Canal ports is in progress, with CK Hutchison selling stakes to a BlackRock-led consortium after Trump’s comments on reclaiming U.S. control. The sale awaits approval from Panamanian authorities, as President Mulino refutes Trump’s claims about China’s control and emphasizes Panama’s sovereignty.
A recent agreement has emerged concerning the Panama Canal, where a Hong Kong-based firm is divesting its interests in critical port operations. Following President Donald Trump’s announcement to regain U.S. control over the canal, CK Hutchison has consented to sell its stakes to a consortium led by investment giant BlackRock. Established by Li Ka-shing, CK Hutchison is not a Chinese firm per se, but it operates under China’s financial regulations.
The significant transaction, totaling approximately $22.93 billion, encompasses 43 ports across 23 nations, including vital sections of the Panama Canal. This deal, however, remains contingent upon approval from Panamanian authorities. Throughout his inauguration address, President Trump asserted that China controls the Panama Canal and declared, “We gave it to Panama, and we’re taking it back.”
In response to Trump’s remarks, Marco Rubio, serving as acting Secretary of State, visited Panama and urged for prompt actions to diminish China’s perceived influence over the canal. Nonetheless, President Jose Raul Mulino of Panama rebuffed Trump’s assertions, stating they misrepresent the situation and asserting, “I reject in the name of Panama and all Panamanians this new affront to the truth and our dignity as a nation.”
President Mulino asserted that the canal is not being restored and emphasized mutual cooperation should be based on accurate understandings regarding shared interests. His statements underscored that discussions with Secretary Rubio did not include any plans related to reclaiming the canal or affecting Panama’s national sovereignty. Moreover, in a separate context, Trump commented on Greenland, expressing intentions to acquire the territory and reassuring its populace of U.S. support and prosperity.
In summary, a significant $22 billion deal involving the Panama Canal has emerged following President Trump’s controversial remarks regarding U.S. control over the waterway. CK Hutchison will sell its port interests to an American-led consortium, although the deal requires Panamanian approval. Notably, President Mulino has countered Trump’s claims, reinforcing Panama’s sovereignty while reiterating the importance of mutual cooperation between the nations.
Original Source: www.the-express.com
