Summary
Panama's authorities searched a Hong Kong-linked company's offices related to the Panama Canal, raising tensions between the U.S. and China. Panama Ports Company, tied to CK Hutchison, criticized the search, while Panama's government denied Chinese influence over the canal. A court decision had recently deemed Chinese control of canal ports unconstitutional.
Key Facts
- Panama's authorities searched and removed property from a Hong Kong company's subsidiary related to the Panama Canal.
- The Hong Kong company is part of CK Hutchison, which criticized the search as unlawful.
- Panama Ports Company's control over canal ports was deemed unconstitutional by Panama's Supreme Court.
- President Donald Trump has claimed China has too much influence over the Panama Canal.
- The U.S. initially controlled the Panama Canal, handing it over to Panama in 1999.
- Panama has temporarily assigned the Maersk and MSC companies to manage the ports.
- CK Hutchison had a pending $23 billion sale involving many ports, including those in Panama, to a group led by U.S. firm BlackRock.
