US President-elect Donald Trump warned on Saturday that the US will demand to regain control of the Panama Canal, alleging unfair fees for US ships and hinting at concerns over Chinese influence.
Trump, posting on Truth Social, said, "Our Navy and Commerce have been treated in a very unfair and injudicious way. The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the US." "This complete 'rip-off' of our Country will immediately stop," he asserted.
Trump also expressed concerns about China's increasing presence near the canal. He said, "It was solely for Panama to manage, not China, or anyone else. It was likewise not given for Panama to charge the United States, its Navy, and corporations, doing business within our Country, exorbitant prices and rates of passage."
"We would and will NEVER let it fall into the wrong hands! It was not given for the benefit of others, but merely as a token of cooperation with us and Panama." Trump added.
The US President-elect further threatened to demand the canal's return if Panama fails to ensure its "secure, efficient and reliable operation."
Directly addressing the Panama Officials to be "guided accordingly", Trump cautioned, "If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to us, in full, and without question".
The United States completed the Panama Canal in 1914, and it was transferred to the Central American nation under an agreement signed by then president Jimmy Carter in 1977. Panama assumed complete control in 1999.
About 5% of global shipping traffic uses the canal, primarily from the US, China, Japan, and South Korea. The Panama Canal Authority reported nearly $5 billion in revenue last fiscal year.
Trump, who campaigned on prioritising US business interests, is scheduled to take office next month.
At TOI World Desk, our dedicated team of seasoned journalists and...
Read MoreAt TOI World Desk, our dedicated team of seasoned journalists and passionate writers tirelessly sifts through the vast tapestry of global events to bring you the latest news and diverse perspectives round the clock. With an unwavering commitment to accuracy, depth, and timeliness, we strive to keep you informed about the ever-evolving world, delivering a nuanced understanding of international affairs to our readers. Join us on a journey across continents as we unravel the stories that shape our interconnected world.
Read Less
Start a Conversation
Post comment