Did America Reclaim the Panama Canal?

BlackRock’s Acquisition Raises Questions About U.S. Influence

For years, the Panama Canal has been a strategic waterway crucial to global trade, and recently, it has been at the center of political and economic tensions. Former President Donald Trump openly threatened to take control of the canal, citing national security concerns and the need to protect American trade interests. Now, in what appears to be a strategically timed move, BlackRock, the world’s largest asset manager with deep ties to U.S. financial and political institutions, has acquired a significant stake in the Panama Canal’s key infrastructure.

The acquisition, first reported by Reuters, saw BlackRock purchase a major stake from CK Hutchison Holdings, a Hong Kong-based conglomerate. The move comes amid increasing geopolitical tensions and concerns over China’s influence on global shipping lanes. The deal immediately sent CK Hutchison’s shares soaring by 22%, signaling the significance of this transaction in international finance and trade.

What Does This Mean for U.S. Control Over the Canal?

The Panama Canal has long been a focal point of U.S. foreign policy. Originally built by the United States in 1914, the canal was under American control until 1999, when it was handed back to Panama under the terms of the Torrijos-Carter Treaties. However, American leaders—particularly conservatives—have long viewed the return of the canal as a mistake, arguing that U.S. interests must be protected.

Trump, during both his 2016 and 2024 campaigns, suggested that the U.S. should “take back the Panama Canal” if necessary. While no official government takeover has occurred, BlackRock’s acquisition of key assets raises serious questions about whether the U.S. is reasserting economic dominance over the canal through corporate influence rather than direct government control.

A Coincidence or a Strategic Play?

It’s hard to ignore the timing. Over the past year, the U.S. has expressed increasing concerns over China’s influence in Latin America, particularly in Panama, where Chinese firms have had growing investments in logistics, ports, and infrastructure. The sale of a major stake in Panama’s key shipping infrastructure to an American firm suggests that the U.S. may be indirectly undermining China’s influence and securing control over one of the world’s most important trade routes.

If this acquisition signals a quiet return of American dominance over the Panama Canal, the implications could be massive. This could mark a shift toward corporate-controlled economic colonialism, where instead of military intervention or government ownership, powerful American financial firms ensure U.S. strategic interests through financial maneuvering.

What Happens Next?

While Panama remains the official operator of the canal, ownership of surrounding infrastructure and services plays a crucial role in control over trade routes. If BlackRock’s acquisition signals the beginning of more U.S. corporate influence in Panama, this could set a precedent for future American moves in Latin America.

The question remains: Did America just reclaim the Panama Canal back—without actually saying it? And if so, what does this mean for global trade, U.S.-China relations, and Panama’s sovereignty? Panamanian President Jose Raul Mulino said on Wednesday morning that U.S. President Donald Trump was lying when he said that the North American leader’s administration was “reclaiming” the Panama Canal.

One thing is certain: this story is far from over.