Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

World News

Panama denies State Department claim US government vessels can now transit canal for free

by admin February 6, 2025
February 6, 2025
Panama denies State Department claim US government vessels can now transit canal for free

Panama denied a claim made by the State Department on Wednesday that the Central American nation had agreed to no longer charge fees for US government ships to transit the country’s famous canal.

“In response to a publication released by the United States Department of State, the Panama Canal Authority, which is authorized to set tolls and other fees for transiting the Canal, reports that it has not made any adjustments to them,” the authority said in a statement, adding that it stood ready to establish a dialogue with the US.

Panama’s statement directly contradicted the State Department’s claim earlier in the evening.

“US government vessels can now transit the Panama Canal without charge fees, saving the US government millions of dollars a year,” the State Department said in a statement posted on X alongside an image of a naval vessel entering the canal’s locks.

Over the past 26 years the US has paid a total of $25.4 million dollars for the transit of warships and submarines, equivalent to less than one million dollars per year, according to a statement from Panama’s embassy in Cuba.

The latest controversy came just days after President Donald Trump reiterated his vow to “take back” the Panama Canal, warning of “powerful” US action in an escalating diplomatic dispute with the Central American country over China’s presence around the vital waterway.

“China is running the Panama Canal that was not given to China, that was given to Panama foolishly, but they violated the agreement, and we’re going to take it back, or something very powerful is going to happen,” Trump told reporters on Sunday.

Hours earlier, the diplomatic stir caused by Trump’s repeated and publicly stated desire for the US to retake control of the canal had appeared to ease after Secretary of State Marco Rubio, making his first overseas trip as the top US diplomat, met with Panama’s President Raúl Mulino.

Though Mulino told Rubio that Panama’s sovereignty over the canal was not up for debate, he also said he had addressed Washington’s concerns over Beijing’s purported influence.

Panama would not renew a 2017 memorandum of understanding to join China’s overseas development initiative, known as the Belt and Road initiative, Mulino said, also suggesting that the deal with Beijing could end early.

The canal was returned to Panama under a 1977 treaty, which allows the US to intervene militarily if the waterway’s operations are disrupted by internal conflict or a foreign power. Today, more cargo than ever runs through the canal than it did during the years of US control.

Since 2000 the canal has been operated by the Panama Canal Authority, whose administrator, deputy administrator and 11-member board are selected by Panama’s government but operate independently.

Panama Ports – part of a subsidiary of the Hong Kong-based conglomerate CK Hutchison Holdings – operates terminals on the Atlantic and Pacific sides of the canal. So do several other companies.

Hutchinson was first granted the concession over the two ports in 1997 when Panama and the US jointly administered the canal.

The company is publicly traded, not known to be on any US blacklists and their subsidiary Hutchinson Ports is one of the world’s largest port operators, overseeing 53 ports in 24 countries, including for other US allies such as the UK, Australia and Canada. Hutchison also does not control access to the Panama Canal.

This post appeared first on cnn.com

previous post
GOP lawmaker scraps with Democrat in hearing over transgender ‘slur,’ bathroom rights: ‘Not going to have it’
next post
Netanyahu backs Trump’s Gaza ‘take over’ as Israeli defense minister instructs military to draw up voluntary migration plan

Related Posts

Putin’s Victory Day ceasefire set to come into...

May 8, 2025

She was expelled from the United States, but...

March 30, 2025

US approves sale of 20 US F-16 fighter...

April 2, 2025

German spy agency labels far-right AfD ‘extremist’

May 3, 2025

Rubio warns if it’s not possible to end...

April 18, 2025

US moves B-2 stealth bombers to Indian Ocean...

April 2, 2025

Israel strikes Hezbollah in response to rocket fire...

March 23, 2025

Panama offers temporary reprieve for 112 migrants deported...

March 8, 2025

Vatican to deactivate mobile phone signal ahead of...

May 6, 2025

A conservationist is building bridges in the Amazon...

February 20, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 4

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved