Panamanian President José
Raúl Mulino announced that Panama
will not renew its agreement with China’s Belt and
Road Initiative after meeting
with U.S. Secretary of State Marco Rubio.
This decision marks a setback for China’s influence in the region,
as Panama was the first Latin American nation to join the initiative.
Rubio warned that Panama’s
ties with China risked violating the Panama Canal treaty.
President Trump has previously criticized
Panama for unfair canal fees and
its growing relationship with China,
suggesting the U.S. may seek control over
the canal if violations are not resolved.
The canal’s tolls can
exceed $500,000 depending on vessel size.
