Washington, July 2: President Donald Trump has once again criticized the decision to hand over control of the Panama Canal to Panama. He stated that China is attempting to expand its influence over this strategic waterway, and the United States will not allow this to happen. Trump reiterated that his administration will take every necessary step to prevent China’s growing interference in this vital passage.
During the inauguration ceremony of the Theodore Roosevelt Presidential Library in Medora, North Dakota, on Wednesday, Trump praised former President Theodore Roosevelt for overseeing the construction of the canal, calling it one of the greatest engineering achievements in American history.
He stated, “Now China is trying to take control of the Panama Canal, and we will not let that happen.” Trump repeated his long-standing criticism of the U.S. decision to transfer control of the canal, labeling it a mistake.
He added, “We gave it away. It was the most expensive thing we ever built, and it was also the most profitable.” Trump also claimed that after taking control of the canal, Panama rapidly increased transit fees.
“The first thing they did was quadruple the prices for ships, and they didn’t lose a single ship. Then they raised it two more times, and again, they didn’t lose a single ship,” he noted.
Discussing Roosevelt’s legacy, Trump emphasized that the former president’s leadership extended beyond conservation and domestic reforms to include significant infrastructure projects like the Panama Canal. However, he did not announce any new policies or actions regarding the canal.
The Panama Canal was constructed by the United States in the early 20th century during President Theodore Roosevelt’s administration. Under a treaty signed in 1977, the U.S. gradually transferred control of the canal to Panama, completing the handover on December 31, 1999. The canal is managed by the Panama Canal Authority, an autonomous agency of the Panamanian government.
This 82-kilometer-long canal connects the Atlantic and Pacific Oceans and is one of the busiest shipping routes in the world, handling nearly five percent of global maritime trade. It is strategically crucial for international commerce, including trade with India, where changes in shipping costs or disruptions in canal traffic can impact freight rates and supply chains.
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