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Panama's President rejects Trump's "take back the canal" remarks, asserting sovereign independence.

Panama's President rejects Trump's "take back the canal" remarks, asserting sovereign independence.

TraderKnowsTraderKnows
2024-12-23
Summary:Panama's President Mulino refuted Trump's "take back the canal" remarks, stressing Panama's sovereignty and independence.

12.23 Panama

On December 22nd local time, Panama's President José Molina made a public statement regarding the comments by U.S. President-elect Trump about "reclaiming the Panama Canal." He emphasized that the sovereignty of the Panama Canal clearly belongs to Panama, and the nation's sovereignty and independence are not to be violated. Molina pointed out that the treaty signed between the U.S. and Panama in 1977 clearly stipulates that the Panama Canal's sovereignty entirely belongs to Panama, having been officially transferred on December 31, 1999. He stated that Panama firmly opposes any actions that deny this historical fact.

Trump's "Reclaim" Threat
Earlier, Trump claimed on social media that the Panama Canal is an "important national asset" of the United States and threatened that if Panama did not stop its "exorbitant fees" and alleged "extortion" against the U.S., the U.S. would demand full control of the canal back. He also criticized the high management fees of the canal, calling them an unfair return for America's "generosity." Trump's remarks have sparked widespread criticism both domestically and internationally.

Strong Opposition from Panamanian Scholars
Scholars in Panama have strongly condemned Trump's statements. Jones Cooper, Vice Dean of the Panama University School of the Canal and International Relations, called Trump's remarks "utterly absurd," highlighting that the United States reaped tremendous profits during its occupation of the canal, while Panama gained minimal benefits. International relations scholar Julio Yao outright stated that Trump's comments are threatening and a continuation of America's "big stick" policy. He stressed that the Panamanian people made significant efforts to regain sovereignty over the canal and cannot allow control to revert to the U.S.

Historical Background of the Panama Canal
The history of the Panama Canal dates back to 1903 when the U.S. supported Panama's independence and secured long-term control of the canal and its zone through the Panama Canal Treaty. However, the unequal treaty incited dissatisfaction among Panamanians, who embarked on a prolonged struggle to reclaim sovereignty. In 1977, a new treaty was signed between the U.S. and Panama, affirming Panama's full control over the canal's management and defense by 1999, and the withdrawal of U.S. military forces from the canal zone.

Outlook and Summary
Trump's comments have not only triggered a strong reaction within Panama but also attracted international attention. The Panamanian government reiterated its complete sovereignty over the canal and stressed its resolve to defend national independence. Analysts believe this issue could exacerbate tensions between the U.S. and Panama and bring more controversy to Trump's impending foreign policy.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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