President Trump can probably chalk this up as a win: The American asset manager BlackRock, according to an announcement made on Tuesday, will be purchasing two key Panama Canal ports from a Hong Kong-based Chinese firm. The possession of these ports by a Chinese concern has, according to President Trump, represented a strategic threat to American shipping as well as to the movement of naval vessels.
The ports in question are Balboa and Cristobal.
A consortium of firms led by BlackRock is buying two key ports in the Panama Canal from a Hong Kong-based firm for nearly $23 billion after President Donald Trump expressed concern that the strategic waterway was falling under Chinese influence.
BlackRock, the world’s largest asset manager with a portfolio of investments valued at $11.5 trillion, has agreed to purchase majority stakes in ports on both sides of the Panama Canal from Hong Kong-based CK Hutchison for $22.8 billion, the companies announced on Tuesday.
The deal would shift control of the strategic ports of Balboa and Cristobal into American corporate hands, a move that aligns with the Trump administration’s concerns over foreign influence near the canal.
This appears to be part of a much larger deal.
Beyond the Panama Canal ports, the consortium will also acquire 43 additional ports in 23 countries from CK Hutchison.
BlackRock’s Fink has aggressively expanded the firm’s infrastructure investment strategy, particularly after acquiring GIP in 2023.
GIP manages a vast portfolio of energy, transportation, and utilities assets, including London Gatwick Airport, US natural gas pipelines and data centers.
It’s unclear as to whether this will be enough for the president, who has insisted in the past on regaining full operational control of the canal. There are still concerns about Chinese influence, not only in Latin America but worldwide.
BlackRock to take control of ports in Panama Canal from Hong Kong firm as US worries over Chinese influence grow https://t.co/U9GVF0yUlW pic.twitter.com/k62Nv3UOw2
— New York Post (@nypost) March 4, 2025
BlackRock itself is an organization that is not without controversy. The environmental left doesn’t like them in particular for their involvement in fossil-fuel development. They have also faced criticism for their DEI and ESG efforts. But in operations of this size, the number of American organizations capable of such a purchase may well be numbered on the fingers of one hand – and better BlackRock than China.
See Related: Panama Capitulates – Will Not Renew 2017 Deal With China. What’s Next?
U.S. Wins Major Concession in Panama Canal, With Trump Picking Up Another Foreign Policy Win
The Panama Canal has vast strategic importance for pretty much every nation on the planet. An enormous amount of shipping passes through the canal every year, not to mention military traffic. Since the canal was built by the United States at an enormous cost, President Trump has been advocating the complete return of the canal to American control. It’s not at all clear if that will happen, but at least these two key ports will no longer be in direct Chinese control.
As of this writing, the White House has not commented on the purchase.
This seems appropriate.
President Trump will be speaking to the nation tonight, and it’s likely Panama will be on the subject list. We will be live-blogging the event right here at RedState, and we’re also running a sale on VIP memberships. Use promo code FIGHT for a 60% discount!
