NEW: Trump Floats Move To Reacquire Control Of The Panama Canal

“The Panama Canal is considered a VITAL National Asset for the United States, due to its critical role to America’s Economy and National Security. A secure Panama Canal is crucial for U.S. Commerce, and rapid deployment of the Navy, from the Atlantic to the Pacific, and drastically cuts shipping times to U.S. ports. The United States is the Number One user of the Canal, with over 70 percent of all transits heading to, or from, U.S. ports,” Trump wrote in a Truth Social post.

“Considered one of the Wonders of the Modern World, the Panama Canal opened for business 110 years ago, and was built at HUGE cost to the United States in lives and treasure – 38,000 American men died from infected mosquitos in the jungles during construction. Teddy Roosevelt was President of the United States at the time of its building, and understood the strength of Naval Power and Trade,” the president-elect continued.

Trump then criticized President Carter for relinquishing control of the U.S.-built canal in 1977, when he signed the Panama Canal Treaty, which phased out American control of the waterway by 1999. Carter also signed the Neutrality Treaty, which ensured that canal tolls would be equal for all nations.

Jimmy Carter and General Omar Torrijos sign the Panama Canal Treaty

The incoming president rejected this notion, arguing that the U.S. should be given preferential treatment.

“It was likewise not given for Panama to charge the United States, its Navy, and corporations, doing business within our Country, exorbitant prices and rates of passage. Our Navy and Commerce have been treated in a very unfair and injudicious way. The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the U.S. This complete ‘rip-off’ of our Country will immediately stop,” Trump’s post continued.

The Panama Canal’s tolls can range from from three to six figures depending on the size of the ship looking to pass and the amount of cargo it is carrying. On the higher end of the spectrum, ships can be charged upwards of $500,000.

Trump went on to suggest that he will move to regain control of the canal if American ships are not given favorable treatment. “[The Panama Canal] was not given for the benefit of others, but merely as a token of cooperation with us and Panama,” the post concluded. “If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to us, in full, and without question.