In a post on social media, the incoming US President Donald Trump described fees charged to use the key shipping lane as a "complete 'rip-off.'" He also warned of it falling into the "wrong hands."
Donald Trump criticized Panama Canal fees as “ridiculous” and demanded lower costs or the canal’s return to the US.
In a Truth Social post, Trump also expressed concern about potential Chinese influence over the waterway, despite no direct Chinese control of canal operations.
The canal, transferred to Panama in 1999, is vital for global trade, handling 5% of maritime traffic.
Trump’s comments follow record revenues of $5 billion announced by the Panama Canal Authority. Panama has not yet responded to his statements.
Yeah, best case scenario is that the rest of the world starts to consciously uncouple from the US, taking away the ability of the incoming fascist government to strongarm "allies" into doing and saying everything they want or suffer financial and diplomatic ruin.
It's already happening. If Trump attempts to go Neville Chamberlain on Ukraine, the Europeans (at least a large group of them) are willing to tell him to fuck off.
They probably can't afford to double the fees for everyone, their canal would be out of business. But double the fees only for American-flagged vessels might be feasible.
It's my understanding the canal is already almost out of business because they don't have enough water. They limit travel through the canal to avoid emptying Lake Gatun.
You bet there's been research on the northwest passage by every shipping and oil company with enough money to spend on research. A brand new shortcut around the world is the dream.