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The Panama government on Monday began an audit of the Hong Kong company that runs ports on both sides of its canal, after US President Donald Trump warned he wanted to reclaim the waterway due to alleged Chinese influence.
Trump repeated this in his inauguration speech on Monday Criticisms he has made in recent weeks About the Panama Canal, through which about 3 percent of global seaborne trade passes each year.
In response, PanamaThe Comptroller General's Office posted a video on the social media platform
“Today our auditors arrived at (the company) to begin a comprehensive audit aimed at ensuring the efficient and transparent use of public resources,” the Comptroller General’s Office said on the X website.
Hutchison Ports, the ports arm of the Hong Kong-listed group CK Hutchison HoldingsIt operates 53 ports in 24 countries including the UK, Germany and Hong Kong.
It first won concessions to operate two ports, one at each end of the canal, in 1997, the year the UK returned Hong Kong to Chinese rule. The concessions were renewed in 2021.
CK Hutchison Holdings, controlled by the Li Ka Shing family – one of Asia's richest families – runs a huge portfolio of global infrastructure including Northumbrian Water in the UK and Australian gas networks.
China does not control the canal, but some officials in Washington are increasingly concerned about the presence of Chinese companies in the area. Hong Kong's government has become more closely aligned with China since a crackdown on pro-democracy protests in 2019 and the introduction of tough national security legislation.
CK Hutchison did not immediately respond to a request for comment on the audit in Panama.
The United States oversaw the construction of the canal, which opened in 1914, but returned full control to the Central American country in 1999. Trump called the move a “mistake” and criticized the high tariffs.
Tolls for crossing the canal, which uses fresh water to operate its locks, have risen dramatically since then Major drought in 2023 It led to restrictions and subsequent changes in how slots were designated.
“We were treated very poorly because of this foolish gift that should never have been given,” Trump said. “We didn't give it to China, we gave it to Panama and we will get it back.”
Panama has long been one of the United States' closest allies in Central America and has been trying to stop migration heading to the United States through it The notorious Darren Gap. The country cut ties with Taiwan to recognize China during Trump's first term in 2017.
President of Panama Jose Raul Molino – Conservative law and order On Monday, he published a strongly worded statement that “completely rejects” Trump’s words and says the canal will remain Panamanian.
He added that no country interferes in the management of the canal and that dialogue is the best way to resolve the issues raised by Trump. He also disagreed with Trump's characterization of the United States returning the canal to Panama.
He wrote on the X website: “The channel was not given up by anyone, but rather was the result of a battle between generations that reached its peak in 1999.”
