After Trump’s threats, an audit began on the Panama Canal

Panamanian authorities have launched an investigation into a Chinese-linked company that controls two ports in the Panama Canal Zone. This happened against the background of the statements of the US President Donald Trump, who threatened to take the waterway under the control of the United States, informs Bloomberg.
The Panama Comptroller’s Office sent auditors to the local offices of Panama Ports Co., a subsidiary of Hong Kong billionaire Li Kashin and part of CK Hutchison Holdings Ltd. The purpose of the investigation is to verify the company’s activities, the control body said.
The inspection comes amid accusations by Trump that China is interfering in the management of the canal. In his inaugural address, Trump reiterated that China effectively controls the Panama Canal and indicated that his administration is ready to take control of the waterway.
CK Hutchison’s ports business contributed about 15% of the company’s earnings in the first half of 2024, largely due to growth in cargo handling in Central America. The company also owns nine other ports in Mexico and the Bahamas.
Panama’s Comptroller General, Anel Bolo Flores, said the investigation would focus on compliance with the terms of the 25-year concession the company was awarded in 1998 and extended through 2021. He promised a detailed financial audit, stressing that the ports now handle significantly more cargo than when the deal was signed and the government’s share of the revenue is insufficient.