**Hong Kong Firm to Divest Panama Canal Ports in Major Deal**

**The move is part of ongoing debate over China's control of strategic global shipping routes, as political pressures grow.**

A prominent Hong Kong-based company, CK Hutchison Holdings, has reached an agreement to divest a substantial portion of its stake in two strategically located ports on the Panama Canal. The deal is anticipated to conclude with a consortium lead by the U.S. investment firm BlackRock. This decision follows mounting criticism from former President Donald Trump regarding alleged Chinese dominance over the canal and calls for renewed U.S. control over this vital shipping artery.

CK Hutchison, through its subsidiary, has managed the ports located at both the Atlantic and Pacific entrances of the Panama Canal since 1997. The proposed sale, valued at $22.8 billion (£17.8 billion), involves a total of 43 ports across 23 nations, including the two significant terminals in Panama. The agreement is still subject to approval by the Panamanian government.

The Panama Canal, spanning 51 miles (82 km) across Panama, represents the principal maritime link between the Atlantic and Pacific Oceans, accommodating approximately 14,000 vessels annually, from cargo ships to military fleets. Originally constructed in the early 1900s, the canal was under U.S. control until treaties signed in 1977 ceded authority gradually back to Panama, culminating in full Panamanian control by 1999.

Amid this backdrop, Trump has voiced multiple arguments advocating for U.S. re-engagement with the canal, suggesting that Chinese control poses a national security risk. He also contends that the initial American investment in the canal justifies reclaiming oversight and claims that U.S. vessels incur excessive charges for using the waterway.

During a visit to Panama in February, U.S. Secretary of State Marco Rubio strongly urged the Panamanian leadership to implement measures against what he termed the "Chinese influence" over the canal. However, Panamanian President Jose Raul Mulino rejected these claims, asserting that the canal "is and will remain" a sovereign asset of Panama.

In a statement about the deal, Frank Sixt, co-managing director of CK Hutchison, emphasized that the transaction is "purely commercial in nature" and does not relate to the current political discourse around control of the Panama Ports. BlackRock, recognized as one of the largest asset management firms worldwide, partners with Terminal Investment Limited, a Swiss corporation in this acquisition effort.