The consortium now holds 80 percent of 43 international ports.
A U.S. consortium of companies, including BlackRock, recently made a $22.8 billion deal to purchase 80 percent of the shares of Panama Canal operations from the Hong Kong-based conglomerate that operates ports. This deal was made after President Donald Trump alleged that the Chinese government interfered with the canal’s port operations.
Last month, Secretary of State Marco Rubio asserted it was necessary to reduce China’s participation in the operation of the canal and ports and get them under U.S. control, as a tremendous number of trade vessels pass through the Panama Canal on a daily basis. Panama President José Raúl Mulino announced his country would end its involvement in Beijing’s Belt and Road Initiative shortly after Secretary Rubio’s visit.
Senator Ted Cruz, chair of the Senate Committee on Commerce, Science and Transportation, said in January, “This situation, I believe, posts acute risks for U.S. national security.”
As the Lord Leads, Pray with Us…
- For President Trump and Secretary Rubio as they seek to ensure U.S. national security through trade and commerce.
- For the president and his foreign policy advisors as tariffs and other programs are implemented.
Sources: MSN, CBS News, Townhall,
