Ricaurte Vásquez Morales, from the Panama Canal Authority. Image: Shutterstock
(The Post News)- The head of the Panama Canal Authority rejected President-elect Donald Trump’s assertions that China manages the crucial trade route and stated that Trump’s proposal for U.S. ships to receive favored rates “will cause chaos.”
Following his victory in the November election, Trump has frequently suggested the notion of seizing the Panama Canal from Panama. On Tuesday, Trump remarked, “China has essentially taken control of it.” China is located at either end of the Panama Canal. “China is operating the Panama Canal.”
For decades, a Chinese company has managed two ports at both ends of the canal, while the Panama Canal Authority, a state-owned entity appointed by the Panamanian government, oversees the canal itself. The management of the canal was slowly returned to Panama due to a treaty signed by former President Jimmy Carter in 1977.
During his news conference, Trump announced that Panama was requesting $3 billion to fix the canal and imposing increased fees on American shipping and U.S. Navy ships for passage.
Vásquez Morales stated that Panama has not asked for any U.S. money to upgrade the canal and he is uncertain about the $3 billion Trump mentioned, as the authority finances repairs using its own income.
The Panamanian leader, who has managed the canal authority since 2019, also refuted the claim that the authority imposes higher fees on U.S. ships. The sole exception to its regulations, Vásquez Morales stated, is that U.S. Navy ships are granted priority passage per the treaty.
The sole exception to its regulations, Morales noted, is that US Navy ships receive preferential treatment as outlined in the 1970s agreement, permitting them to quickly move between the Atlantic and Pacific Oceans.
About the Author
Discover more from The Post News
Subscribe to get the latest posts sent to your email.
