US Firm Takes Control of Key Panama Canal Ports After Trump Push

A major shake-up in global trade: A Hong Kong-based company has sold its controlling stake in two crucial Panama Canal ports to a US-led consortium, including financial giant BlackRock, in a $23 billion deal.

3/5/20251 min read

The move follows pressure from Donald Trump, who has repeatedly called for the US to "reclaim" the canal from alleged Chinese influence. Speaking to Congress, Trump declared, "My administration will be reclaiming the Panama Canal, and we've already started doing it."

Strategic Sale or Political Play?
Hong Kong’s CK Hutchison Holdings insists the sale of its 90% stake in Panama Ports Company—which operates the vital Balboa and Cristobal ports—is purely commercial and has "nothing to do with politics." However, the timing is striking, coming just weeks after US Secretary of State Marco Rubio visited Panama City.

The Panama Canal is a global trade powerhouse, with over 12,000 ships passing through each year, most linked to the United States. The deal gives the US greater control over one of the world’s most important shipping lanes, a move welcomed by Trump amid his broader efforts to curb China's global influence.

Meanwhile, CK Hutchison Holdings, which also owns UK telecom giant Three, is making moves in other markets—including its merger with Vodafone to form the UK's largest mobile provider.

The big question: Was this just a business decision, or a strategic geopolitical shift?