US President Donald Trump speaks during a speech at a joint Congressional meeting held at the US Capitol in Washington, DC on March 4, 2025.
Mandelungan | Via Reuters
President Donald Trump promoted US asset management company on Tuesday Black Rock’Contract to buy two Panama Canal ports Positive steps In his broader efforts to “recover” US canals.
In a joint speech to Congress, Trump said his administration has “already started” to gain control of the canals connecting the Caribbean to the Pacific Sea.
“Just today, big American companies announced they would be purchasing both ports around the Panama Canal,” Trump said. CK Hutchson.
The Chinese company’s contract in Panama was previously chosen by US lawmakers as an example of Beijing’s creeping expansion into central and South America.
A BlackRock spokesman did not immediately respond to requests for comment early Wednesday.
“The Panama Canal can be used by Americans, for Americans, not for others, but for others,” Trump told the Capitol, adding that it was “built at the incredible cost of American blood and treasure.”
A BlackRock deal has come to buy two ports as the Trump administration is actively seeking new ways Washington and American businesses can counter China’s presence in the region.
Secretary of State Marco Rubio and Panama Canal Bureau’s administrator Ricaulte Vasquez tour on February 2, 2025, in Panama City’s Panama Canal.
Mark Sieferbein | Via Reuters
Panama gained control of the canal in 1999 more than 20 years after then-President Jimmy Carter signed a treaty in 1977 that granted ultimate control over important waterways.
“The agreement was violated very strictly,” Trump said in his speech Tuesday. “We didn’t hand it to China. We handed it to Panama. We’ll get it back.”
The administration’s efforts to “restore” control of the Panama Canal are led by US Secretary of State Marco Rubio. Marco Rubio attended Trump’s speech and was cheered when the president acknowledged his role in the Panama Canal effort.
“Lucky, Marco,” Trump said half-jokingly. “Now we know who to blame if something goes wrong.”
