CK Hutchison Plans Sale of Panama Ports Amid Trump Pressure

CK Hutchison, a Hong Kong-based firm, is selling its controlling stake in the Panama Ports Company to a consortium led by BlackRock for $22.8 billion, amid rising tensions between the U.S. and China. The sale, which gives the consortium an 80% interest in Hutchison Ports, comes in response to U.S. pressure over perceived Chinese influence in the Panama Canal, a vital trade route. President Trump has previously threatened to reclaim control of the canal, claiming that China is operating it, despite Panama having held control since 1999. The deal is seen as a strategic move to distance the canal from Chinese ownership, which had become a contentious issue in U.S. foreign policy. Meanwhile, Panama is attempting to navigate its relationship with both the U.S. and China, with legal challenges surrounding Hutchison's operations adding to the complexity. This divestment marks a significant shift in control over a critical maritime chokepoint, reflecting broader geopolitical dynamics.