I like the Move. Trump getting Chinese influence out of Panama and puts 90% of the ports management and leadership under a Global Conglomerate Led by Blackrock a US Entity.
..but you know he will be touting this as America took over the Panama Canal or some crap....we didn't take it over. We basically pressured them to sell the operation and management of it to a Global Entity that isn't controlled by China and Put it into a more America Friendly Global Entity.
BlackRock Takes Over Panama Canal Ports Amid Trump's Pressure
The conglomerate CK Hutchison Holdings Ltd. has handed over control of a unit operating ports near the Panama Canal, following pressure from U.S. President Donald Trump to reduce Chinese influence in the region.
The deal involves the sale of 90% of Panama Ports Co., the company responsible for managing the Balboa and Cristobal entries, to a consortium led by BlackRock Inc. and its Global Infrastructure Partners division.
This transaction marks a milestone in the battle for strategic control of the interoceanic route, a key point in commercial geopolitics.
The operation, valued at approximately $19 billion, takes place in a context where the Panamanian government had considered canceling Hutchison's concession to operate the ports. Additionally, an ongoing audit of the contract had created uncertainty about the company's future in Panama.
The sale represents a strategic move for both the Chinese group and Panamanian authorities, who have sought to ease tensions with Washington.
President Trump has been a strong critic of Chinese influence in the Panama Canal, arguing, without evidence, that Beijing controls the waterway and that the United States pays an excessive cost for the passage of its government ships.
With this agreement, his administration achieves a victory in its pressure strategy against China, while reinforcing its stance on maintaining control over key infrastructures in the region.
The White House and the Panamanian government have not issued immediate comments on the transaction, although sources close to the deal indicate that the U.S. Congress was informed beforehand.
Hutchison's presence in Panama dates back to 1997, when it obtained the concession for the Balboa and Cristobal ports, extended in 2021 until 2047. However, growing political pressure and regulatory uncertainties led the conglomerate to reconsider its stay in the country.
For Panama, the change of operator represents a shift in the management of its port infrastructure, at a time when the Canal faces challenges due to the climate crisis and transit restrictions due to water scarcity.
BlackRock's acquisition of the ports will require approval from the Panamanian government, but the transaction is already considered one of the largest in the sector's history.
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from me on the post i replied to).
