In his latest speech at Turning Point’s AM Fest, President Donald Trump called for immediate action for the Panama Canal to be reclaimed by the United States if the Panama Canal Authority does not reduce the cost of the tolls for shipping containers based on vessel measure parameters.
President Trump said to the crowd the Panama Canal charges “exorbitant prices” which is a “rip off” for U.S. shipping containers. He continued, “The Panama Canal is falling into the wrong hands. It was given to the people of Panama. We will demand that the Panama Canal will be returned to the United States.”
In recent years, the Panama Canal Authority has raised the increased the tolls for shipping containers passing through the Panama Canal at up to $500,000 according to Fox Business depending on the size of the ships.
Safeguarding the Panama Canal is a strategic economic measure to ensure efficient transportation of imported and exported manufactured goods. Being a cornerstone of connecting the United States to the Atlantic and Pacific Ocean, the Panama Canal is essential to supporting the global supply chain.
Therefore, the United States remains heavily reliant with shipping containers carrying manufactured goods through the Panama Canal as an essential global shipping route. U.S. companies depend significantly on consumer goods passing through the canal.
President Trump’s demand to reduce cost of tolls fees or to take back the Panama Canal is essential to protect the interests and pockets of both the pockets of the American people and U.S. businesses.
