Donald Trump wishlist includes acquiring Greenland, reclaiming control of the Panama Canal, and even annexing Canada as the 51st state
He reiterated his interest in making Canada into a US state and criticized American spending on Canadian goods and military support for Canada, one of the country's closest allies
Panama on Tuesday celebrated the 25th anniversary of the US handover of the Panama Canal, which president-elect Donald Trump has threatened to take back. The commemoration was made more poignant by the death on Sunday of former US President Jimmy Carter, who negotiated the 1999 handover deal. On this, such a special day ... a mix of happiness for this 25th anniversary of having the canal in Panamanian hands, and the sadness we feel for the death of former president Jimmy Carter, said Panama's president, Jos Ral Mulino. The ceremony included a moment of silence for Carter, who reached the handover deal with former Panamanian leader Omar Torrijos. Speaking at the main anniversary celebration in Panama City, Mulino said the two men had the vision and nobility to take the road of justice." Meanwhile, Trump is decrying increased fees Panama has imposed to use the waterway linking the Atlantic and Pacific oceans. He has said if things don't change after he takes office in late January,
Mulino also ruled out lowering canal tolls for US ships and refuted claims that China held any sway over the crucial waterway linking the Atlantic and Pacific Oceans
Donald Trump criticised Panama Canal fees as a 'rip-off' and raised alarms about China's influence near the canal, sparking a renewed debate over its trade role and sovereignty
Notes due in 2036 fell 0.7 cent on the dollar and the cost of insuring against a sovereign default jumped to the highest level since February on a closing basis amid thin trading, according to pricing
First it was Canada, then the Panama Canal. Now, Donald Trump again wants Greenland. The president-elect is renewing unsuccessful calls he made during his first term for the US to buy Greenland from Denmark, adding to the list of allied countries with which he's picking fights even before taking office on January 20. In a Sunday announcement naming his ambassador to Denmark, Trump wrote that, For purposes of National Security and Freedom throughout the World, the United States of America feels that the ownership and control of Greenland is an absolute necessity." Trump again having designs on Greenland comes after the president-elect suggested over the weekend that the US could retake control of the Panama Canal if something isn't done to ease rising shipping costs required for using the waterway linking the Atlantic and Pacific oceans. He's also been suggesting that Canada become the 51st US state and referred to Canadian Prime Minister Justin Trudeau as governor of the Great Stat
China Monday backed Panama President Jose Raul Mulino's assertion of his country's sovereignty over the Panama Canal against US President-elect Donald Trump's threat to regain control of it if the central American country doesn't stop charging "exorbitant prices" to US ships and naval vessels. The 82-km Panama Canal cuts across the central American nation and is the main link between the Atlantic and Pacific oceans. If shipping rates are not lowered "we will demand that the Panama Canal be returned to us, in full, quickly and without question, Trump told a crowd of supporters in Arizona on Sunday. His remarks prompted a quick rebuke from Mulino, who said, "every square metre" of the canal and surrounding area belongs to his country. Panama's sovereignty and independence were non-negotiable, BBC quoted Mulino as saying. Asked for her comments at a media briefing here, Chinese Foreign Ministry spokesperson Mao Ning referred to Mulino's assertion of Panama's sovereignty. The Panama
Donald Trump's said that the US 'foolishly' ceded the canal to Panama, blaming the 'ridiculous' fee charged to American ships to pass through the channel
The US is the canal's biggest customer, responsible for about three quarters of the cargo transiting through each year
The canal is typically used by US Gulf Coast exporters to send LNG cargoes to Asia via the Pacific Ocean, but from last year low water levels forced cuts to daily crossings
The Ministry of Finance urged these entities to monitor disruptions that could potentially drive up India's export expenses
Global trade dipped 3% to $31 trillion in 2023 after peaking in 2022
The UN trade body sounded an alarm on Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Jan Hoffmann, a trade expert at the United Nations Conference on Trade and Development known as UNCTAD, warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks. Since attacks by Yemen's Houthi rebels on ships in the Red Sea began in November, he said, major players in the shipping industry have temporarily halted using Egypt's Suez Canal, a critical waterway connecting the Mediterranean Sea to the Red Sea and a vital route for energy and cargo between Asia and Europe. The Suez Canal handled 12 per cent to 15 per cent of global trade in 2023, but UNCTAD estimates that the trade volume going through the waterway dropped by 42 per cent over the last two months, Hoffmann said. Since November, the Iranian-backed Houthis have launched at least 34 attacks on
For a start, the balance of global trade has shifted toward Asia, with China, India and Southeast Asia all being important consumption economies in addition to their long-standing role in production
The Panama Canal Authority has warned that water restrictions may continue into 2024, making it important for shipowners to create a contingency plan that does not further disrupt global supply chain
Around 35 to 40 cargo ships a day pass through the canal, which accounts for five percent of the world's maritime commercial traffic