Trump demands Panama lower Canal fees or return it to US – DW – 12/22/2024
www.dw.com
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."

cross-posted from: https://lemmy.world/post/23416568

Summary

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.

  • jagged_circle@feddit.nlEnglish
    1·
    4 hours ago

    Well that’s true

    And its also true that it would encourage local manufacturing and imports from other countries (eg Bangladesh, India, etc)

    • Dasus@lemmy.worldEnglish
      1·
      4 hours ago

      I don’t think it’s as easy to spring up competitively industries foe things just because consumer have to spend more.

      It’s somewhat ridiculous to pretend this will improve us domestic production. Clothes, smartphones, etc etc etc.

      It’ll just make things mroe expensive. And who benefits from the working class having to spend more?