Global site navigation

Local editions

Panama president says Trump 'lying' about reclaiming canal
Economy

Panama president says Trump 'lying' about reclaiming canal

by  AFP 2 min read
The Panama Canal handles five percent of global maritime trade, and 40 percent of US container traffic
The Panama Canal handles five percent of global maritime trade, and 40 percent of US container traffic. Photo: MARTIN BERNETTI / AFP/File
Source: AFP

CHECK OUT: Don't let unemployment hold you back. Start your digital marketing journey today.

Panamanian President Jose Raul Mulino on Wednesday accused his US counterpart Donald Trump of "lying" about Washington taking back the Panama Canal.

"Once again, President Trump is lying. The Panama Canal is not in the process of recovery," Mulino wrote on X.

"I reject, on behalf of Panama and all Panamanians, this new affront to the truth and to our dignity as a nation," Mulino added, after Trump said that his administration had started to take back the vital waterway.

"To further enhance our national security, my administration will be reclaiming the Panama Canal, and we've already started doing it," Trump said in a speech to Congress Tuesday. "We're taking it back."

Under mounting pressure from Washington, Hong Kong firm Hutchison said Tuesday it had agreed to sell its lucrative Panama Canal ports to a US-led consortium.

CK Hutchison Holdings said it would offload a 90-percent stake in the Panama Ports Company (PPC) and sell a slew of other non-Chinese ports to a group led by asset manager BlackRock.

Read also

Trump tariffs leave Mexican tequila producers with sour taste

PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!

The sellers will receive $19 billion in cash, the company said.

Hutchison subsidiary PPC has for decades run ports at Balboa and Cristobal on the Pacific and Atlantic ends of the interoceanic waterway.

But since taking office in January, Trump has complained that China controls the canal -- a vital strategic asset that the United States once ran.

He has refused to rule out a military invasion of Panama to regain control, sparking angry protests and a complaint to the United Nations by the Central American nation.

Since 1999, the canal has been run by the Panama Canal Authority (ACP) -- an autonomous entity whose board of directors is appointed by Panama's president and National Assembly.

The 80-kilometer (50-mile) long canal handles five percent of global maritime trade, and 40 percent of US container traffic.

Beijing has consistently denied interfering in the canal.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.

Hot: