Panama has launched an audit of a Chinese-affiliated company controlling two major ports, drawing new focus to President Trump’s repeated threats to take over the canal, according to a new report from Bloomberg.
Key Facts:
– The Panamanian comptroller’s office began auditing Panama Ports Company on Monday.
– Panama Ports Company is linked to Hong Kong-based Hutchinson Port Holdings.
– The 25-year concession was first granted in 1998 and renewed in 2021.
– President Trump claims China is meddling in the canal and warns he might take control.
– Panamanian officials deny any Chinese involvement in the canal’s operations.
The Rest of The Story:
Panama’s Comptroller General Anel Bolo Flores announced the audit to determine if the port operator is honoring its concession terms.
He said the government intends to look closely at the company’s revenue-sharing arrangement, arguing that growing cargo volumes might mean the country deserves a larger share.
President Trump has repeatedly accused Panama of allowing Chinese influence at the canal.
BREAKING: President Donald Trump declares the U.S. is "taking back" the Panama Canal from Chinese control pic.twitter.com/lqrKSgXzSK
— Eric Daugherty (@EricLDaugh) January 20, 2025
In a recent speech, he vowed to reclaim control if he finds evidence that Panama is letting China operate or influence the waterway.
Panama’s government rejects his assertions, emphasizing that the canal remains under local management.
Despite these claims, Panamanian President Jose Raul Mulino reassured citizens that the canal will stay under national authority, insisting there is no foreign interference.
— José Raúl Mulino (@JoseRaulMulino) January 20, 2025
Commentary:
Many believe Panamanian officials launched this audit in direct response to President Trump’s public threats.
If that is true, the government’s quick action shows they are taking his words seriously and may signal that there is some merit to what Trump is claiming.
By moving so swiftly, Panama could be trying to avoid further conflict and prove they have nothing to hide.
We can only hope they resolve this issue soon and in a way that serves America’s best interests while preserving the canal’s stability.
The Bottom Line:
Panama’s audit of a Chinese-linked port operator intensifies the debate over Trump’s canal concerns.
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The outcome could shape relations among Panama, the United States, and China in the near future.