Panama City – The administrator of the Panama Canal, Ricaurte Vásquez, affirmed on Friday that the essential waterway will remain under Panamanian control and accessible to international trade, dismissing assertions from President-elect Donald Trump who suggested a U.S. takeover.
In an exclusive interview, Vásquez countered Trump’s accusations concerning Chinese control over the canal’s operations and expressed that altering existing operational protocols would lead to disorder. He clarified that the Chinese firms working at the canal’s port facilities belong to a consortium from Hong Kong that won a contract in 1997, and pointed out that U.S. and Taiwanese companies are also involved in operations at various ports along the canal’s route.
Trump has controversially suggested that the U.S. should reclaim ownership of the canal, even hinting that military action could be an option. He claimed that the canal is crucial to U.S. interests, labeling the tolls for passage as “ridiculous.”
Panama’s President, José Raúl Mulino, has firmly stated that the canal will continue to be managed by Panamanian authorities. Responding to the notion of U.S. intervention, Vásquez said there is “no foundation for that sort of hope,” emphasizing the stability and sovereignty Panama has established over the canal.
Vásquez reiterated that the Panama Canal proudly serves the commercial interests of all nations. He noted that U.S.-flagged vessels cannot receive preferential treatment due to a neutrality agreement, asserting that maintaining the existing operational rules is the most prudent course of action. He mentioned that requests for special exceptions are systematically denied to uphold fairness in the process. The only deviation from this treaty is for U.S. warships, which can pass through with expedited clearance. Approximately 70% of the maritime traffic through the canal is destined for U.S. ports.
The canal, constructed by the United States in the early 20th century to enable easier movement of commercial and military vessels between its coastlines, was handed over to Panama on December 31, 1999, following a treaty signed by President Jimmy Carter in 1977. Last month, Trump claimed to his supporters that “We’re being ripped off at the Panama Canal,” insisting that the U.S. “foolishly gave it away.”
Regarding toll prices for canal usage, Vásquez mentioned that a series of planned fee increases has recently concluded, with any further changes to be discussed in the first half of the upcoming year. This allows time for the clients to adjust their plans accordingly, and any new rates will be subjected to public feedback.
He stated, “There’s no discrimination in the fees,” clarifying that pricing is applied equally to all vessels transiting the canal. The canal’s operations depend on reservoirs to manage its locks, and recent drought conditions over the past two years have necessitated a significant reduction in the daily number of crossings. Consequently, the tolls charged to shippers reserving passage have seen an increase due to the reduced capacity.
The Panama Canal stretches 51 miles across the nation, providing an efficient route that saves ships from taking the longer, costlier path around Cape Horn at South America’s southern tip. Vásquez acknowledged the immense responsibility that comes with Panama’s stewardship of the canal, specifically mentioning the need for proactive measures during crises like COVID-19, which the canal navigated while ensuring continuous operations.
