Summary
Panama has taken control of two ports at the Panama Canal from a Hong Kong company after a court ruling canceled their lease agreement. The move comes amid concerns about China's influence in the region and follows pressure from President Donald Trump. A Danish company, Maersk, has been appointed as the interim operator of the ports.
Key Facts
- Panama's Supreme Court ruled the lease held by Hong Kong's CK Hutchison for ports at the Panama Canal was unconstitutional.
- Panama now controls the ports and appointed Maersk as the temporary operator.
- President Donald Trump has expressed concerns about China's role in Latin America.
- The Panama Canal is an important route, with 70% of its cargo linked to the United States.
- The original lease was granted in 1997 and extended in 2021 before being canceled.
- CK Hutchison plans to challenge the court ruling and the takeover legally.
- China's government criticized the ruling and has warned of consequences for Panama.
- CK Hutchison was previously preparing to sell stakes in various ports, including those in Panama, pending Chinese government approval.
