Panama Canal Controversy: U.S. Military Interests and Global Shipping Dynamics

Panama's President Jose Raul Mulino dismissed reports about U.S. military interest in the Panama Canal, citing anonymous sources. Claims by President Trump about China's control and high tolls were rejected by Mulino. Meanwhile, CK Hutchison's sale of its ports business, including Panama assets, progresses slowly amidst scrutiny.

Panama's President, Jose Raul Mulino, dismissed reports of U.S. military interest in the Panama Canal, highlighting the anonymity of sources behind these claims. These assertions come amid discussions about strategic control of the vital shipping route.

President Donald Trump's unsubstantiated claims that the canal is under Chinese control and that its tolls are excessive were firmly rejected by Mulino. The canal's management by the Panama Canal Authority, a governmental body, contrasts with the presence of Hong Kong-based CK Hutchison, which operates two canal ports.

In a parallel development, CK Hutchison's move to sell most of its ports business to a consortium led by BlackRock is progressing, albeit slowly, amidst accusations of 'bullying tactics' by foreign governments. Mulino plans to discuss future regional port projects and potential Trans-Pacific shipping involvement with U.S. business players and Colombian President Gustavo Petro.

(With inputs from agencies.)