Trump demands Panama lower Canal fees or return it to US – DW – 12/22/2024
www.dw.com
In a post on social media, the incoming US President Donald Trump described fees charged to use the key shipping lane as a "complete 'rip-off.'" He also warned of it falling into the "wrong hands."

Summary

Donald Trump criticized Panama Canal fees as “ridiculous” and demanded lower costs or the canal’s return to the US.

In a Truth Social post, Trump also expressed concern about potential Chinese influence over the waterway, despite no direct Chinese control of canal operations.

The canal, transferred to Panama in 1999, is vital for global trade, handling 5% of maritime traffic.

Trump’s comments follow record revenues of $5 billion announced by the Panama Canal Authority. Panama has not yet responded to his statements.

  • Skyrmir@lemmy.worldEnglish
    31·
    1 day ago

    The canal is on a crash course with climate change. They’re going to need absolutely massive investment to operate once the lake dries up, and they’re not pulling in massive profits to pay for that. If Trump wants lower fees, he best be ready to pay for them. The reality though is that he’s probably just betting on failure.

      • Skyrmir@lemmy.worldEnglish
        4·
        1 day ago

        I think someone looking to milk billions in government contracts has been talking to Trump, and offering kick backs.

    • wjrii@lemmy.worldEnglish
      2·
      1 day ago

      So I guess the drought finally eased, and the reservoir that supplies the fresh water for the locks is doing better, but yeah, even with a new dam that should finally get started soon, the canal probably has 50 years or less as a viable commercial route, though honestly 150+ years isn’t a bad run as an economic project, and one of Jimmy Carter’s most humane legacies was overseeing its transfer back to the people who were dominated into letting Americans build it in the first place.

    • BarqsHasBite@lemmy.worldEnglish
      1·
      1 day ago

      I watched a documentary that the canal also tamed the yearly monsoon. I think that’s where they get the water. Granted we’re in for a rollercoaster on rain too.