Trump scores strategic win as Panama court ousts Hong Kong firm from canal ports
AI Summary
A Panamanian court voided a port contract held by Panama Ports Company, a subsidiary of Hong Kong's CK Hutchison Holdings, deeming the concession unconstitutional. The decision, welcomed by the U.S. and criticized by Beijing, raises concerns about Chinese influence near the Panama Canal. Panama's President Mulino assured that canal traffic will continue uninterrupted, with a local subsidiary of A.P. Moller-Maersk temporarily operating the ports while a new bidding process is initiated. The court's ruling followed an audit identifying irregularities in a 2021 concession extension. The U.S. has expressed support for the decision, aligning with its long-standing efforts to limit Beijing's presence in the region. Panama Ports Company argues the ruling lacks legal basis and could harm Panamanian families.
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