Trump: Panama Must Stop ‘Ripping Off’ U.S. Or America Will Take Panama Canal Back

President-elect Donald Trump said on Saturday that Panama must stop taking advantage of the U.S. or else America is going to take the Panama Canal back.

“The Panama Canal is considered a VITAL National Asset for the United States, due to its critical role to America’s Economy and National Security,” Trump said in a statement posted to social media. “A secure Panama Canal is crucial for U.S. Commerce, and rapid deployment of the Navy, from the Atlantic to the Pacific, and drastically cuts shipping times to U.S. ports.”

Trump noted that the U.S. was the top user of the canal, with more than 70% of the ships that move through the port “heading to, or from, U.S. ports.”

“Considered one of the Wonders of the Modern World, the Panama Canal opened for business 110 years ago, and was built at HUGE cost to the United States in lives and treasure – 38,000 American men died from infected mosquitos in the jungles during construction,” he said. “Teddy Roosevelt was President of the United States at the time of its building, and understood the strength of Naval Power and Trade.”

Trump slammed former Democrat President Jimmy Carter for “foolishly” giving it away to Panama and noted that Panama was supposed to manage the port by itself, “not China, or anyone else.”

“It was likewise not given for Panama to charge the United States, its Navy, and corporations, doing business within our Country, exorbitant prices and rates of passage,” Trump continued. “Our Navy and Commerce have been treated in a very unfair and injudicious way. The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the U.S. This complete ‘rip-off’ of our Country will immediately stop.”

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Trump said that the U.S. has a “vested interest in the secure, efficient, and reliable operation of the Panama Canal” and “will NEVER let it fall into the wrong hands!”

Trump’s statement comes as communist China has sought to expand its footprint in the region, including by building and taking over ports.

“It was not given for the benefit of others, but merely as a token of cooperation with us and Panama,” Trump said. “If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to us, in full, and without question.”

“To the Officials of Panama, please be guided accordingly!” Trump concluded.