BlackRock-Hutchison Panama ports deal: 25-year timeline to troubled waters
From Trump’s vow to retake Panama Canal to Beijing’s scathing attack on Hutchison’s deal, the Post chronicles the latest developments
Hours later, the foreign ministry in Beijing echoed his remarks, with its spokeswoman on Tuesday stating the country’s firm opposition to “economic coercion and bullying” when asked about an investigation mainland Chinese authorities were reportedly carrying out on the deal.
The canal was funded by Washington in the early 20th century and controlled by American authorities until 1999, when Panama assumed control following an agreement with the US government.
In September 1977, then US president Jimmy Carter and the commander of Panama’s National Guard, General Omar Torrijos, signed treaties over the canal.
The Torrijos‑Carter Treaties guaranteed that the United States retained the permanent right to defend the canal from any threat that might interfere with its continued neutral service to ships of all nations, while Panama would gain control of the waterway after 1999. The US had exercised control of the canal since 1903.
The Post chronicles the development of the contentious multibillion-dollar ports deal between Hutchison and a consortium led by US firm BlackRock, the world’s largest asset manager.
