Water artery: The US can take back the Panama Canal without a fight
Donald Trump's disputes with the Danish authorities over Greenland's ownership had not subsided, as the parties had a new battlefield — the Panama Canal. China is also actively involved in this confrontation. According to the decision of the Supreme Court of Panama, a subsidiary of the Danish shipping company Maersk will manage two strategically important terminals — Balboa and Cristobal. In fact, this means the transfer of the Panama Canal under the temporary control of Danish entrepreneurs. Auctions are due to take place in the near future. The media is confident that after this, the ports will be acquired by firms close to Trump. Details can be found in the Izvestia article.
Welcome to the USA
The situation around the Panama Canal complicates Washington's relations not so much with Copenhagen as with Beijing. Last week, the Supreme Court of Panama declared unconstitutional an agreement that gives the Panama Ports Company (PPC), a subsidiary of the Hong Kong conglomerate C. K. Hutchison, the right to manage ports in the Panama Canal.
This news angered the Chinese authorities. The official representative of the country's Foreign Ministry, Guo Jiakun, promised that Beijing would protect its interests in Panama. Since 1997, RRS has controlled the ports of Balboa and Cristobal. Several other Panamanian ports are managed by other companies, but Cristobal and Balboa are considered the most important.
In December 2024, Trump had already laid claim to the Panama Canal. Then he said that the United States could regain control of the most important transport artery, which was transferred to the full disposal of the Panamanian authorities back in 1999.
He cited unfair, in his opinion, fees for the passage of American vessels, as well as the risk of the channel falling into "the wrong hands," that is, the PRC. In Panama, they did not agree with these arguments.
He also complained that Panama "manages this crucial waterway in a manner unacceptable to the United States." Trump did not specify exactly how much Washington pays for using the channel and why this price is unacceptable.
The American leader depicted an American flag waving over a waterway with the words: "Welcome to the United States Channel!"
Panamanian President Jose Raul Mulino replied to Trump that "every meter of the Panama Canal belongs to Panama, and so it will be."
The biggest "customer"
The United States built the Panama Canal, connecting the Pacific Ocean with the Caribbean Sea and the Atlantic Ocean, in 1914. Washington guaranteed Panama the neutrality of the canal, and also pledged to pay part of the revenue generated from the operation of the waterway.
Initially, the Panama Canal zone was under the control of the American authorities and was subject to US laws. In 1977, President Jimmy Carter signed two treaties with Panamanian military dictator Omar Torrijos, according to which Panama was to gain control of the shipping channel by 1999. Washington, in turn, reserved the right to protect the area from threats to its neutrality.
The capacity of the Panama Canal reaches 14 thousand ships per year, which is 3% of all global shipments. The United States is considered to be the largest "customers" of this waterway, 40% of American container traffic passes through the canal, followed by China and Japan.
Litigation
In March 2025, just a couple of weeks after Trump's inauguration, it became known that two important ports at different ends of the Panama Canal would come under the control of a consortium led by the investment company BlackRock. Earlier, Trump was outraged by the fact that the Hong Kong company Hutchison operates the ports of Balboa and Cristobal. However, she decided to eventually sell her assets.
The acquisition of the two Panamanian ports was valued at $22.8 billion and included more than 40 other ports worldwide. Initially, Hutchison was going to challenge in court any attempts to take the port business out of its control. But then the head of the company considered the offer very profitable and "elegant".
However, Beijing did not like the sale of ports to Western companies, and suspended the deal, launching an antitrust investigation. Hong Kong, although it retains significant autonomy, is part of the PRC.
After the inspections, Hutchison announced the possibility of involving a Chinese investor, the state—owned shipping giant COSCO, in the deal. However, the Comptroller General of Panama, Anel Flores, did not agree with this, and filed a lawsuit with the country's Supreme Court.
According to him, the contract with the RRS has harmed Panamanian interests. During the audit, the country's authorities revealed multiple violations of the contract, estimating that they cost the Panamanian budget more than $300 million. In particular, the extension of the contract with the RRS, which expired in 2021, for a period of 25 years without a tender, was called illegal.
As a result, Hutchison's deal with BlackRock will not take place. Cancellation of the contract will allow a large number of companies to participate in the bidding process. The British edition of The Telegraph believes that someone from Donald Trump's inner circle will gain control of the ports "on the cheap", as this corresponds to the foreign policy course proclaimed by the American leader.
The interests of the United States and China, which has been increasing its influence in Latin America over the past few years, seriously overlap. Beijing implemented expensive projects in the region as part of the "One Belt, One Road" initiative, which displeased Washington. Upon returning to the White House, Trump decided to bring Latin America back under American control.
After the change of power in Venezuela, as a result of the American operation, China lost one of the most important partners in the region in the person of Caracas. The situation for China is also complicated by the rise to power in Latin American countries of right-wing forces loyal to the United States in Ecuador, Paraguay, Chile, Honduras and Argentina. So it cannot be ruled out that within the framework of this geopolitical plot, Beijing may give in.
Переведено сервисом «Яндекс Переводчик»
