Republican Dusty Johnson reportedly plans to introduce the Panama Canal Repurchase Act while authorizing US President- elect Donald Trump to negotiate the reacquisition of the Panama Canal from Panama, reported The Hill. The latest proposed legislation actually stems from Donald Trump's severe concerns about the increasing influence of China around the Panama Canal.
ET Year-end Special Reads
Buying a home in 2025? Here's how property market can shape up
18 top stock picks for 2025 from 6 leading brokers
Five big bangs that shook the corporate world in 2024
According to The Hill, the bill would eventually empower the US President and the Secretary of State to initiate negotiations with Panama with an initial draft suggesting a symbolic $1 repurchase. House Speaker Mike Johnson put forward an argument that owning the Panama Canal would actually demonstrate American strength and global security while directly addressing the criticism made by US President- elect Donald Trump of the Carter-Torrijos Treaties back in the year 1977.
US President- elect Donald Trump has been pretty vocal about reclaiming the canal while refusing to rule out the military action, asserted The Hill. During a pretty recent Mar-a-Lago press conference, he put an emphasis on the strategic importance of Panama Canal while suggesting potential intervention if diplomatic negotiations fail.
The statement ‘we gave the Panama Canal to Panama, we didn't give it to China’ made by US President- elect Donald Trump severely underscores the geopolitical