There is a tussle going on between Iran and America regarding the Strait of Hormuz, meanwhile once again President Donald Trump has mentioned the Panama Canal. He said that America should never have given its control into the hands of Panama. He alleged that Panama had greatly increased the transit fees on the canal. Trump also took issue with China on the Panama Canal and said that he will never allow Beijing to influence this important waterway.
The President arrived in Medora on Wednesday, July 1 to inaugurate the Theodore Roosevelt Presidential Library. Meanwhile, he criticized the handing over of the canal to Panama and said that America will completely oppose China’s attempt to control it.
‘Panama made a lot of money’
Trump said that we handed over the Panama Canal to Panama. First of all he increased the prices for ships four times. During this period, not a single ship of his was lost. Then he increased the prices twice more, even during this time not a single ship of his was reduced. Panama earned a lot of money from this for years. This was so stupid on our part.
Will not let China capture Panama Canal – Trump
Trump said that China is trying to capture the Panama Canal. But we will not let this happen at all. Trump said these things were about the Torrijos-Carter treaties signed in 1977, under which America had agreed to hand over control of the Panama Canal. After this, America handed over the canal built in 1914 to Panama in 1999. Let us tell you that even before this we have shown our displeasure regarding the Panama Canal.
Why is the Panama Canal so important?
The Panama Canal is counted among the world’s busiest and most strategically important shipping routes. Every year approximately 5 percent of the world’s trade passes through this canal. Goods worth approximately $270 billion are transported through this route. The canal handles about 40 percent of America’s container traffic.
Let us tell you that the Panama Canal extends for about 82 kilometers. It connects the Caribbean Sea to the Pacific Ocean on the Atlantic side. It starts from Colon and reaches Panama City, passing through Gatun Lake and Gallard Cut. Before this canal was built, ships traveling between the Atlantic and Pacific Oceans had to go around South America via the Strait of Magellan or Cape Horn. This increased both the distance and time of travel. After the construction of this canal, the distance between New York and San Francisco was reduced by approximately 8,000 miles.
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