Donald Trump signs many executive orders
US President Donald Trump said the US would regain Panama Canal, criticizing China’s influence over the vital waterway and high tolls on American ships.
In his inauguration speech on Monday, Mr. Trump repeated criticism he has made in recent weeks of the canal, which handles about 3% of global seaborne trade each year.
The United States oversaw construction of the Panama Canal, which opened in 1914, but returned full control to the Central American country in 1999. Some officials in Washington are increasingly concerned about the presence of Chinese companies in the region, including one based in Hong Kong. The company operates terminals at both ends.
“We didn’t give it to China, we gave it to Panama and we’re going to take it back,” Trump said.
The Panamanian government has rejected Trump’s comments and accusations about Chinese influence. President José Raúl Mulino said in December that the canal “is and will belong to Panama, promoting global trade.”
China does not control the Panama Canal.
Trump also said that American ships, including military ones, were being overloaded by the canal. Severe drought in the canal region, which uses freshwater to operate its locks, has pushed up the cost of crossing the canal over the past 18 months after leading to restrictions and changes in the way slots are allocated open.
