Donald Trump issued a troubling warning about the future of the Panama Canal in a Truth Social post on Saturday, calling the current agreement between the United States and Panama a “rip-off.”
In his post, the president-elect threatened to take back the waterway if Panama continues to impose a “heavy price” on the United States for use of the shipping route, a critical maritime corridor for both U.S. military operations and global trade.
“Our Navy and Department of Commerce have been treated very unfairly and unfairly,” Trump wrote. “The fees Panama is charging are outrageous, especially when you realize the extraordinary generosity the United States has shown to Panama. This complete ‘rip-off’ of our country will stop immediately….”
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The United States is the canal’s top traveler, accounting for 72.5% of the canal’s traffic, according to 2021 data from the Panama Canal Authority.
The Panama Canal Authority charges boats and ships for use of the waterway with tariff fees ranging from $0.50 to $300,000, depending on the size and purpose of the vessel.
When the canal was built in the first two decades of the 20th century, the United States initially covered most of the construction costs, but control of the waterway was transferred to Panama in 1999 under the terms of a 1979 treaty brokered by then-President Jimmy. carter.
Trump claimed that Carter “foolishly” abandoned the passage between the Pacific and Atlantic Oceans, and Trump demanded that control of the canal be returned to the United States.
“This was not given for the benefit of others, but simply as a sign of our cooperation with Panama,” he said.
“If you do not follow the moral and legal principles of this generous donation, we will demand, without question, that the Panama Canal be returned to us in full,” Trump added. “Panamanian officials, please guide us accordingly!”
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In his post, President Trump also expressed anger over China’s growing influence in the Sino-American maritime corridor.
China is the second-largest user of the canal but has not expressed interest in purchasing the passage. But one Hong Kong-based company controls two of the waterway’s five ports.
