“In fact, with this speech, for example, Panama is about to become one of the most severely criticized locations because President-elect Donald Trump has called up their fees as unfair because US ships pass through Panama canals at a cost. He demanded Washington regain control of the waterway and alluded to China’s growing influence around the canal, which, according to the US, was a threat to the interests as it has enabled American entrepreneur mobility between the Atlantic and Pacific oceans.
On his Truth Social platform, Trump stated that the absurd fees in Panama, calling them unfair, have been equally defined by both the US Navy and Commerce,” adding ‘that’s it- this US rip-off has been put to rest. Established by the US in 1914, the Panama Canal was returned to Panama in 1977 under an understanding signed by President Jimmy Carter and then fully transferred in 1999.
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For Trump, the canal was created for Panama and not to be managed by Beijing or anyone else. He added that should Panama fail to guarantee adequate, safe, and reliable run of the canal, the US would demand its full and unquestioned return. Panama’s authorities did not immediately respond to the statement made by Donald Trump.
Trump is not taking office till January 20, yet he’s been applying some of his political prowess during the waning days of the Biden administration. On the campaign trail, Trump boasted that as an entrepreneur, he was ‘uniquely positioned’ to fight for American business interests.’
As much as five percent of all maritime traffic going around the world passes through the Panama Canal, allowing ships to avoid traveling around the long and dangerous southern tip of South America while going from Asia to the US East Coast. Major users of the passage include the United States, Japan, China, and South Korea. Panama Canal Authority reported earning record revenues of almost five billion dollars in the last fiscal year in October from this waterway.