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Trump says the US will not let China take over Panama Canal
Trump said Panama raised canal fees four times and warned the United States would not let China take over the waterway.
On Wednesday, President Donald Trump criticized the historical transfer of the Panama Canal at the Theodore Roosevelt Presidential Library in Medora, North Dakota, vowing to prevent China from gaining control of the waterway.
Trump's remarks referenced the 1977 Torrijos-Carter Treaties, which mandated transfer of the waterway to Panama; the country assumed full control in 1999.
The Panama Canal handles about 40% of United States container traffic, equating to over $270 billion in annual cargo; Trump claimed Panama raised transit prices four times after assuming control.
Regarding potential Chinese influence, Trump asserted, "Now China's trying to take over the Panama Canal, and we're not going to let that happen." The statement reflects his administration's stance on foreign control.
The 51-mile canal was built and initially managed by the United States. Following the signing of the 1977 Torrijos-Carter Treaties, a phased transition took place, culminating in Panama assuming full, sovereign control and ownership of the waterway in late 1999.