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CK Hutchison, the father of Panama Ports Company (PPC), denied its headquarters, on Wednesday that it owes $ 1.2 billion to Panama-which appeared on the surface with the United States’ Chinese tensions about the channel’s infrastructure and regional impact.
The General Community Observer announced this week that the review of Pana Ports Company (PPC), a subsidiary of Hong Kong Contition, revealed violations of the renewal of a 25 -year concession agreement.
“In contrast to reality,” PPC said in allegations. statement.
“At any time, PPC failed to comply with the payments corresponding to the rates applied to Ports Ports Works to the Container Movement,” the company said in a statement.
The conflict appeared on the same day as US Defense Secretary Beit Higseth arrived in Panama for a regional security summit.
Higseth met with Panami President Jose Raul Mulino and later attended the strip cutting ceremony for a new pavement of the United States at the Vasco Nones de Balboa naval base. On the platform, Higseth announced that the United States “will return the Panama channel from the influence of China.”
The conflict comes amid geopolitical friction in the region. China is the largest commercial partner in Panama and dominant power in the infrastructure of Latin America, due to its demand for raw materials and goods (i.e. soybeans). Nearly 20 % of all the goods that pass through the channel are either linked or stem from China, making it the second largest user after the United States.
Beijing has quickly condemned the recent CK Hutchison’s decision to sell Panama Port operations to a consortium, led by the United States Asset Manager, Blackrock.
A $ 19 billion deal has been publicly celebrated, which is expected to generate great revenues for the company that was founded by the billionaire in Hong Kong Li Ka Chiging, as a step “to restore” control of the strategic waterway.
Since he took office in January, Trump has repeatedly claimed that the United States needs to control the Panama and Greenland channel “for national security”.
While Panama has officially withdrew from the Belt and Roads Initiative in China (BRI), the trade between China and Latin America is still strong.
Brazil, now the largest regional trading partner in China, is not signed by Bray highlights the economic imprint of Beijing in the region that is likely to remain flexible.
currently , The Trump administration has a 104 % tariff on imports from China. Beijing clapped with an additional tariff on American goods, as President Xi Jinping said on Wednesday that China will build a “common future with neighboring countries.”
Later that day, Trump announced a temporary halting for 90 days on the new definitions of certain countries, but raised the existing definitions imposed on imports from China to 125 %, “immediately effective.”
