US firm agrees to buy Panama Canal ports at center of Trump fury
American asset management giant BlackRock has agreed to buy two ports at either end of the Panama Canal from a Hong Kong-based firm whose ownership had angered President Donald Trump.
Trump said several times during the lead-up to his inauguration and since taking office that he intends to 바카라 게임 웹사이트take back바카라 게임 웹사이트 the Panama Canal from Panama, which took over control of the crucial international waterway in 1999 under a treaty negotiated with the United States 20 years earlier. And he cited Chinese ownership of some of the port operations as a sign that China is now running the canal.
바카라 게임 웹사이트China is operating the Panama Canal. And we didn바카라 게임 웹사이트t give it to China. We gave it to Panama, and we바카라 게임 웹사이트re taking it back,바카라 게임 웹사이트 said Trump during his inaugural address. At a January press conference ahead of his inauguration, Trump would not rule out using either military force or economic coercion to take control of the canal once again.
The deal announced Tuesday called for BlackRock and a consortium of fellow investors to spend $22.8 billion to buy the ports of Balboa and Cristobal on either end of the canal from CK Hutchison, a Hong Kong company. It said the deal is an 바카라 게임 웹사이트agreement in principal.바카라 게임 웹사이트 BlackRock바카라 게임 웹사이트s consortium is also buying CK Hutchison바카라 게임 웹사이트s controlling interest in 43 other ports comprising 199 berths in 23 countries, but none of the ports it operates in China or Hong Kong.
바카라 게임 웹사이트These world-class ports facilitate global growth,바카라 게임 웹사이트 said a statement from BlackRock CEO Larry Fink. 바카라 게임 웹사이트Through our deep connectivity to organizations like Hutchison 바카라 게임 웹사이트 and governments around the world, we are increasingly the first call for partners seeking patient, long-term capital. We are thrilled our clients can participate in this investment.바카라 게임 웹사이트
BlackRock is one of the world바카라 게임 웹사이트s largest asset managers, with an enormous pool of $11.6 trillion in assets. For context, that sum equal is to about 40% of the United States바카라 게임 웹사이트 gross domestic product, the broadest measure of a nation바카라 게임 웹사이트s economic activity. Unlike some conglomerates, its doesn바카라 게임 웹사이트t completely control a large number of high profile companies. But among its holdings, it owns the second largest stake in some of the nation바카라 게임 웹사이트s largest and most successful companies, including Walmart, Apple, Amazon, Microsoft and Google owner Alphabet.
The Panama Canal was constructed by the United States in the early years of the 20th century and was completed in 1914. For most of that century it was operated by the United States, before the Carter Administration negotiated its handover to Panama in a controversial treaty opposed by many Republicans at the time.
The 51-mile canal is a key to both the movement of international trade and U.S. military vessels. About 4% of the world바카라 게임 웹사이트s maritime trade and more than 40% of U.S. container traffic traverses canal.
And it is a key part of Panama바카라 게임 웹사이트s economy. In 2024, the canal earned nearly $5 billion in total profits. According to a study released in December by IDB Invest, 23.6% of Panama바카라 게임 웹사이트s annual income is generated from the canal and companies that provide services related to the canal바카라 게임 웹사이트s operations.
Since its handover in 1999 the canal itself has been operated by Panama, not the Chinese, despite Trump바카라 게임 웹사이트s stated concerns.
The White House did not have an immediate comment on the purchase, although it appears likely that it could assuage Trump바카라 게임 웹사이트s concerns about Chinese influence over the waterway. Mike Waltz, the administration바카라 게임 웹사이트s national security advisor, told reporters late last month that the leadership of Panama had entered into 바카라 게임 웹사이트negotiations about addressing the ports on either side of the canal.바카라 게임 웹사이트
But removing Chinese influence is only part of Trump바카라 게임 웹사이트s demands on Panama, including that Panama stop charging fees to American vessels. During his first trip abroad as Secretary of State, which began with a stop in Panama, Marco Rubio said he agreed that U.S. vessels be allowed to traverse the canal at no charge.
Rubio said that the U.S. would be obligated to protect the Panama Canal if it came under attack, adding that he found it 바카라 게임 웹사이트absurd that we would have to pay fees to transit a zone that we are obligated to protect in a time of conflict.바카라 게임 웹사이트
바카라 게임 웹사이트Those are our expectations. They were clear. They were clearly understood in those conversations,바카라 게임 웹사이트 he said in remarks he made in the Dominican Republic after leaving Panama.