• 2 days ago
Trump threatens to retake control of Panama Canal unless deal reached

President-elect Donald Trump threatens to reassert US control over the Panama Canal, accusing Panama of charging excessive rates to use the Central American passage, which allows ships to cross between the Pacific and Atlantic oceans. Speaking to a crowd of supporters in Arizona, Trump also said he would not let the canal fall into the 'wrong hands,' warning of potential Chinese influence on the passage. China does not control or administer the canal, but a subsidiary of Hong Kong-based CK Hutchison Holdings has long managed two ports on the Caribbean and Pacific entrances to the canal. Trump's comments came hours after he leveled a similar threat against Panama in a post on Truth Social on Dec. 21. The US built the canal and administered territory surrounding the passage for decades. But the US and Panama signed a pair of accords in 1977 that paved the way for the canal's return to full Panamanian control.

US NETWORK POOL/REUTERS

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Transcript
00:00Because we're being ripped off at the Panama Canal like we're being ripped off everywhere
00:04else.
00:05A secure — he just said, take it back, and it's a good idea.
00:09When they gave it to Panama, can you believe that?
00:14We would never have done it if we thought what's happening now can happen.
00:21And we would never, and we will never, ever let it fall into the wrong hands.
00:29That is falling into the wrong hands.
00:31It was not given for the benefit of others by a token of cooperation, but it was given
00:40to Panama and to the people of Panama.
00:42But it has provisions.
00:43You've got to treat us fairly, and they haven't treated us fairly.
00:48If the principles, both moral and legal, of this magnanimous gesture of giving are not
00:54followed, then we will demand that the Panama Canal be returned to the United States of
01:00America in full, quickly, and without question.
01:05I'm not going to stand for it.
01:08So to the officials of Panama, please be guided accordingly.
01:12When President Jimmy Carter foolishly gave it away — gave it away for $1 — $1 — during
01:20his term in office, it was solely for Panama to manage, and not for China or any other
01:26country to manage.
01:27You see what's going on there?
01:29China.
01:30The United States is the number one user of the Panama Canal, with over 72 percent of
01:40all transits heading to or from U.S. ports.
01:43Think of that.
01:44So we built it.
01:45We're the ones that use it.
01:46They gave it away.
01:49And one of the — really, one of the great wonders of the world.
01:54The Panama Canal opened for business 110 years ago and was built at huge cost to the United
02:01States.
02:02And it really is big when you consider the lives and the treasure, the equivalent of
02:09$1.2 trillion today.
02:12You don't hear those numbers.
02:19You don't hear those numbers.
02:20You don't hear those numbers.
02:21You don't hear those numbers.
02:22You don't hear those numbers.
02:23You don't hear those numbers.
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02:26You don't hear those numbers.
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02:35You don't hear those numbers.
02:36You don't hear those numbers.
02:37You don't hear those numbers.
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