Trump's comments (see below) are a very rare example of a leader of one sovereign state pushing another sovereign country to cede territory.
- “The taxes that Panama is charging are ridiculous, especially knowing the incredible generosity that the US has given to Panama. “
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“This total “rip-off” of our Country will stop immediately”
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“It was not given for the benefit of others, but only as a sign of cooperation with us and Panama. To return the Panama Canal to us, in full, and without question.”
More (in summary:
- Trump warned against possible Chinese influence, despite China not controlling the canal, but managing nearby ports through a company based in Hong Kong… than let the canal fall into the “wrong hands”
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Panama Answer:
- Panamanian President Jose Raul Mulino opposed Trump, emphasizing Panama's sovereignty and defending the canal taxes as fair.
- “Every square meter of the Panama Canal and the surrounding area belongs to and will continue to belong to (Panama),”
- Other Panamanian politicians also criticized Trump's statements.
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Background on Channel Control:
- The US built and managed the canal for decades before transferring control to Panama in 1999 following the 1977 accords.
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Strategic Importance:
- The canal handles 2.5% of global seaborne trade, which is critical to US imports and exports.
- Trump's statements indicate a possible move toward aggressive diplomacy, but international law gives no chance to US claims.
This article was written by Eamonn Sheridan at www.forexlive.com.
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