Trump Threatens Panama: US Will Retake Canal If 'Complete Rip-Off' Fees Continue
Built by the U.S. in 1914, the Panama Canal was given to Panama in 1999
President-elect Donald Trump has warned that the U.S. could take back control of the Panama Canal, accusing Panama of charging excessive fees on U.S. ships that are using the crucial waterway for shipping.
"The fees being charged are ridiculous," Trump wrote on Truth Social, calling the situation a "complete rip-off" and vowing to stop it.
Trump's post marks a rare suggestion that the United States could reclaim foreign territory. The Panama Canal, built by the U.S. in 1914 and given to Panama in 1999, facilitates 5% of global maritime trade, reported Al Jazeera.
The Panama Canal is operated by the Panama Canal Authority, a government-owned entity that fully operates and maintains the waterway that leads into the Red Sea.
Al Jazeera said Trump also addressed concerns about China's influence near the canal that connects the Atlantic and Pacific Oceans, writing, "We will NEVER let it fall into the wrong hands!"
The statement comes in light of Panama opening a new, $200 million cruise ship terminal at the mouth of the canal funded by China Harbor Engineering Company.
Despite a drought that cost almost $700 million in revenue, Panama said its canal produced record revenue, a staggering $2.5 billion that went to the national treasury.
Originally published by Latin Times
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