Trump threatens to retake Panama Canal over 'unfair' fees: 'Complete rip-off'

Donald Trump has threatened to demand the return of the Panama Canal, criticising Panama's "ridiculous" tolls on American vessels and accusing the country of treating the US unfairly despite its "historical generosity".

In Short

• Trump says Panama Canal vital to US economy, security
• Says higher tolls a 'rip-off' for US vessels
• Threatens to demand return of ownership

US President-elect Donald Trump has threatened to demand the return of the Panama Canal to the United States if Panama continues to charge what he described as "ridiculous" passage fees for American vessels.

In a post on his social media platform Truth social, Trump remarked that "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", and strongly criticised the tolls levied, which can from as low as $0.50 to as high as $300,000.

"The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the US. This complete 'rip-off' of our country will immediately stop," Trump wrote.

The US completed the construction of the canal in 1914 and managed it until December 31, 1999. On that date, control of the canal was officially handed over to Panama, a sovereign country, based on treaties signed in 1997. The US is the largest user of the Canal.

"It was not given for the benefit of others, but merely as a token of cooperation with us and Panama. 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," Trump added.

The President-elect further stressed, “The United States has a vested interest in the secure, efficient, and reliable operation of the Panama Canal, and that was always understood. We would and will NEVER let it fall into the wrong hands! It was not given for the benefit of others, but merely as a token of cooperation with us and Panama,” he added, stating that the country is being treated “in a very unfair and injudicious way”.

Neither the Panamanian embassy in Washington nor the Panama Canal Authority have commented on Trump's remarks.