Panama President Rallies Support for Canal After Trump Threat

(Bloomberg) -- Panama President Jose Raul Mulino rallied support from former presidents in defense of the country’s canal following threats from Donald Trump to reimpose US control over the waterway.

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Mulino met with three Panamanian leaders on Monday, who all signed a statement asserting the country’s independence and autonomy over the canal.

“As ex-presidents, we support the the declarations of President Jose Raul Mulino and we unite under the affirmation that the sovereignty and independence of our country and our canal are not negotiable,” the statement said. It was signed by former Presidents Mireya Moscoso, Ernesto Perez Balladares and Martin Torrijos.

Former administrators of the Panama Canal Authority also rejected Trump’s remarks and said there is no legal mechanism through which the US could take back the canal.

Mulino on Sunday rebuffed Trump’s threat to reassert control of the canal over concerns of Chinese influence and excessive tolls charged for US ships. The feud triggered a selloff of Panama’s bonds Monday.

Mexico’s new president, Claudia Sheinbaum, expressed solidarity with Mulino on Monday. Mulino said in a post on X he is grateful for the support from world leaders and reiterated “the canal is and will be Panamanian, fostering world trade.”

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