• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

by January 9, 2025
written by January 9, 2025

House Republicans on Thursday introduced a bill for the United States to repurchase the Panama Canal after President-elect Trump raised concerns that the critical waterway is under Chinese control. 

The bill, named the Panama Canal Repurchase Act, was introduced by Rep. Dusty Johnson, R-S.D., a member of the Select Committee on China and the House Transportation and Infrastructure Committee. 

‘President Trump is right to consider repurchasing the Panama Canal,’ Johnson said in a statement. ‘China’s interest in and presence around the canal is a cause for concern. America must project strength abroad – owning and operating the Panama Canal might be an important step towards a stronger America and a more secure globe.’

The bill has 15 other Republican co-sponsors: Reps. Dan Crenshaw, Randy Weber, Troy Nehls and Brian Babin of Texas; Mike Collins, Barry Loudermilk and Andrew Clyde of Georgia; Barry Moore of Alabama; Jack Bergman of Michigan; Mike Rulli of Ohio; Neal Dunn and Aaron Bean of Florida; Erin Houchin of Indiana; Abraham Hamadeh of Arizona; and Mike Lawler of New York. 

If it becomes law, the bill would give the president authority to act in coordination with the secretary of state, to ‘initiate and conduct negotiations with appropriate counterparts of the Government of the Republic of Panama to reacquire the Panama Canal.’

From the date the measure is enacted, the president has 180 days to submit a report to Congress detailing the progress of the negotiations, potential challenges and anticipated outcomes.

The U.S. Department of State estimates around 72% of all vessels that travel through the Panama Canal are coming from or going to a U.S. port. 

Noting the canal’s strategic importance to the United States, Johnson’s office also noted how the waterway is a key transit point for U.S. Coast Guard and Department of Defense vessels. 

Without access to the canal, ships would be forced to travel 8,000 additional miles around South America. 

‘More than 10,000 ships use the Panama Canal each year, generating billions of dollars of tolls which would economically benefit America,’ Johnson’s office said. 

At a press conference from his Mar-a-Lago estate in Palm Beach, Florida, on Tuesday, Trump was asked if he would assure the world he would not use ‘military or economic coercion’ to gain control of the Panama Canal, as well as Greenland. 

‘No, I can’t assure you on either of those two. But, I can say this. We need them for economic security. The Panama Canal was built for our military,’ Trump said. ‘Look, the Panama Canal is vital to our country. It’s being operated by China. China. And we gave the Panama Canal to Panama. We didn’t give it to China. And they’ve abused it. They’ve abused that gift. It should have never been made.’ 

The Panamanian government has denied that China is controlling the Panama Canal, which the United States relinquished on the last day of 1999 under a treaty negotiated decades before by the late former President Jimmy Carter. 

Johnson’s office referenced China’s growing influence in the region around the Panama Canal. 

‘In 2018, Panama was the first country in Latin America to join the People’s Republic of China’s (PRC) Belt and Road Initiative, and investments from PRC firms in canal infrastructure has only increased since. Further, PRC companies have managing rights for the two ports on either side of the canal,’ the congressman’s office wrote. 

Two seaports on either side of the Panama Canal have been run for decades by the Hong-Kong-based company Hutchison Ports PPC, the New York Times reported. 

The newspaper highlighted how the Chinese government has increasingly implemented its national security laws on the island of Hong Kong that can force companies to comply with intelligence-gathering and military operations. 

Related Topics

Trump Transition
China
Latin America
Hong Kong
National Security
State Department

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Russia monitoring Trump’s ‘dramatic’ comments on Greenland acquisition
next post
Trump, Pence shake hands at Carter funeral in first public meeting since leaving office

related articles

Cambodia to nominate Trump for Nobel Peace Prize...

August 2, 2025

WATCH: Trump says he is hopeful Hillary Clinton...

August 1, 2025

Recess on ice as Republicans hunker down for...

August 1, 2025

Trump moves nuclear submarines weeks after praising sub’s...

August 1, 2025

Iran says it has ‘plenty of scientists’ left...

August 1, 2025

Trump endorses ‘MAGA warrior’ for RNC chairman after...

August 1, 2025

Trump repositions 2 nuclear submarines after ‘highly provocative’...

August 1, 2025

Kavanaugh cites 3 presidents in explaining Supreme Court’s...

August 1, 2025

China’s growing nuclear arsenal aims to break US...

August 1, 2025

Trump ally Bukele’s party amends El Salvador constitution...

August 1, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump secures deals with 3 Middle Eastern nations in 1st major trip of 2nd term

    May 16, 2025
  • Dems divided on Trump’s executive order aimed at slashing drug prices

    May 15, 2025
  • Russian official says Moscow has ‘no intention’ of supplying Iran with warheads, following Trump taunts

    June 25, 2025
  • Biden’s Cabinet condemns attempted assassination of former President Trump

    July 15, 2024
  • UN chief sounds the alarm amid fears over possible DOGE-inspired cuts after Trump’s order

    February 5, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Dems accused of ‘stonewalling’ Tulsi Gabbard confirmation after GOP demands quick hearing

    January 8, 2025
  • Inflation in China: Impacts and Expectations

    July 10, 2024
  • JONATHAN TURLEY: Joe Biden’s pardon of son Hunter cements his legacy as liar in chief

    December 2, 2024

Recent Posts

  • Cava revenue beats estimates as Mediterranean chain reports double-digit same-store sales growth

    May 16, 2025
  • US flies joint patrol with the Philippines near shoal region guarded by China

    February 4, 2025
  • Top Republican demands ‘costs’ for China after it hacked Treasury Dept in year marked by CCP espionage

    December 31, 2024

Editor’s Pick

  • Biden, Democrats back away from bill that would give Trump more federal judges to appoint

    December 11, 2024
  • ‘Peace through strength’: Trump and Netanyahu expected to discuss Iran, Hamas at White House meeting

    February 4, 2025
  • US Ambassador to Israel Mike Huckabee indicates US is working to offer evacuation options

    June 19, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock