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International Business Times UK
International Business Times UK
World
Teddy Cambosa

US Moves Closer to Controlling Panama Canal as BlackRock-Led Deal Buys Chinese-Held Ports

BlackRock Panama United States Donald Trump the Panama Canal CK Hutchison China Flickr
Dan Lundberg/Flickr (Credit: Flickr/Dan Lundberg)

The United States is one step closer to reclaiming a strategic foothold in the Panama Canal as a BlackRock-led consortium strikes a £17.92 billion ($23 billion) deal to acquire key port operations from Chinese-owned CK Hutchison. The deal, which President Donald Trump hailed as a victory, marks a significant shift in global trade power and has already sparked political controversy.

Inside the BlackRock-Led Takeover

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