[FoxBusiness] President-elect Trump unleashed a tirade against Panama Canal tolls Saturday, claiming the U.S. is being ripped off by high prices.
In a Truth Social post Saturday, Trump complained at length about the fees levied on U.S. ships going through the Big Ditch. The Panama Canal's tolls can range from three to six figures depending on how large a vessel is and how much cargo it carries, with the largest ships being charged as much as $500,000.
"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," Trump wrote in his post. "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 incoming president criticized former President Carter, who Trump said "foolishly gave it away, for One Dollar." In 1977, Carter signed the Panama Canal Treaty, which phased out U.S. control of the canal by 1999.
Carter also signed the Neutrality Treaty, which ensured that the tolls would be equal for all nations. Trump implied that the U.S. should be given preferential treatment in his post.
"Our Navy and Commerce have been treated in a very unfair and injudicious way," the president-elect argued. "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 also floated the idea of demanding the canal's ownership be returned to the United States if American ships are not given fair treatment.
"[The Panama Canal] was not given for the benefit of others, but merely as a token of cooperation with us and Panama," Trump 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. |