We gave it away. It was the most expensive thing we ever built.
At the dedication of Theodore Roosevelt's presidential library in North Dakota, President Trump returned to a long-held grievance — that the United States surrendered one of its greatest strategic and commercial achievements when it transferred the Panama Canal to Panama in 1999. Invoking Roosevelt's legacy as a builder of civilizations, Trump warned that China now seeks influence over the waterway that carries five percent of global maritime trade, and pledged American resistance. No new policy followed the words, but the words themselves carried the weight of intent — a signal, if not yet a course of action, in the ongoing contest over the world's most consequential corridors.
- Trump declared at a presidential library dedication that handing over the Panama Canal was among the costliest strategic mistakes in American history.
- His warning that China is actively maneuvering to control the canal injects fresh urgency into long-simmering geopolitical anxieties about Beijing's expanding footprint in Latin America.
- Trump claimed Panama quadrupled transit fees after the 1999 handover without losing a single ship, framing the transfer as a windfall extracted at America's expense.
- Despite the charged rhetoric, Trump announced no concrete policy — no treaty renegotiation, no diplomatic pressure, no formal action — leaving the speech as signal rather than strategy.
- The gap between the gravity of Trump's framing and the absence of any announced response leaves the canal's geopolitical future suspended in deliberate ambiguity.
Standing at the dedication of Theodore Roosevelt's presidential library in Medora, North Dakota, President Trump revisited a grievance he has carried for years: that the United States made a historic error when it transferred the Panama Canal to Panama nearly three decades ago. Framing Roosevelt as a builder of unmatched ambition, Trump called the canal's construction one of the greatest achievements in American history — and its handover one of the costliest surrenders.
The 82-kilometer waterway connecting the Atlantic and Pacific oceans carries roughly five percent of global maritime trade, making it a pressure point for supply chains and freight rates across continents, including in countries like India. Under treaties signed in 1977, the United States completed the transfer of operational control to Panama on December 31, 1999. Trump has long objected to this arrangement, and on Wednesday he sharpened his critique by claiming Panama had exploited the handover to dramatically raise transit fees — quadrupling them, he said, without losing a single vessel.
But the deeper concern Trump voiced was not about pricing. It was about China. He stated plainly that Beijing was working to gain influence over the canal and that his administration would not allow it — though he offered no specifics about the nature of that influence or what steps the United States might take in response. The declaration itself appeared to be the point.
Trump made no new policy announcements. He did not call for treaty renegotiation or outline any concrete pressure on Panama. His remarks were rhetorical — a reassertion of grievance, a warning to rivals, and a signal of intent whose translation into action, if it comes at all, remains an open question.
President Donald Trump stood at the dedication of Theodore Roosevelt's presidential library in Medora, North Dakota, on Wednesday and returned to a familiar grievance: the United States, he argued, had made a catastrophic mistake in handing over the Panama Canal to Panama nearly three decades ago. More pressing still, he warned, China was now maneuvering to seize control of the waterway—and his administration would not permit it.
Trump's remarks centered on Roosevelt's legacy as a builder. The former president, Trump noted, had overseen the canal's construction in the early 20th century, an engineering feat of such magnitude that Trump called it among the greatest achievements in American history. But the present moment, in Trump's telling, had inverted that triumph into something approaching national loss. "We gave it away," he said. "It was the most expensive thing we ever built, and it was also the most profitable thing we ever built."
The canal itself remains a critical artery of global commerce. The 82-kilometer waterway connects the Atlantic and Pacific oceans, carrying roughly five percent of the world's maritime trade. For countries like India, disruptions to canal traffic or shifts in shipping costs ripple through supply chains and freight rates. Its strategic importance is not theoretical—it is woven into the daily movement of goods across continents.
Under treaties signed in 1977, the United States gradually transferred operational control to Panama, completing the handover on December 31, 1999. Today the Panama Canal Authority, an autonomous agency of the Panamanian government, manages the waterway. Trump has long objected to this arrangement, and on Wednesday he added a new dimension to his critique: the assertion that Panama had exploited its newfound control by dramatically raising transit fees. "The first thing they did... they raised the prices for the ships by four times, and they didn't lose one ship," Trump said. "And then they raised it again twice, and they didn't lose one ship." The implication was clear—Panama had discovered it could extract far more revenue without consequence, a windfall made possible by American generosity.
But Trump's primary concern was not Panama's pricing power. It was China's ambitions. He stated plainly that Beijing was attempting to gain greater influence over the canal, and that the United States would resist this effort. He offered no specifics about what form that Chinese influence might take, nor did he detail any concrete steps his administration planned to take in response. The warning itself—the declaration of intent—appeared to be the message.
The remarks fit a pattern in Trump's public statements about American strategic assets and foreign competition. They also reflect genuine geopolitical anxieties that extend beyond Trump himself. The canal's importance to global trade, combined with China's expanding economic footprint in Latin America, has long concerned American policymakers. Yet Trump's framing—casting the 1999 transfer as a mistake born of American weakness, and positioning China as the immediate threat—simplifies a more complex history and present reality.
What Trump did not do on Wednesday was announce new policy. He made no declaration of intent to renegotiate treaties, to pressure Panama, or to take any concrete action regarding the canal's future. His words were rhetorical, a reassertion of grievance and a signal of concern. Whether they portend future action, or whether they remain part of Trump's broader critique of past American decisions, remains to be seen.
Citas Notables
China is trying to take over the Panama Canal, and we're not going to let that happen— President Donald Trump
It was the most expensive thing we ever built, and it was also the most profitable thing we ever built— President Donald Trump, on the canal
La Conversación del Hearth Otra perspectiva de la historia
Why does Trump keep returning to the Panama Canal? It's been under Panamanian control for over 25 years.
Because it represents, in his view, a transfer of American power and profit to another nation. He sees it as a tangible example of a deal the US made that he believes was disadvantageous.
But what's the actual evidence that China is trying to take it over?
Trump didn't provide specifics. He stated it as fact, but the concern itself—China's growing economic influence in Latin America—is real enough that it resonates with people worried about geopolitical competition.
Does Panama actually control the canal, or is there some loophole?
Panama controls it through the Panama Canal Authority. But the canal's importance means multiple powers have interests in how it operates. That's where the anxiety about Chinese influence enters.
If Panama raised fees four times and didn't lose shipping traffic, doesn't that suggest the canal is worth what they're charging?
It does. Which is another way of saying the canal's value was always higher than what the US was charging. Trump sees that as Panama profiting from American infrastructure. Others might see it as Panama finally capturing the true value of what it owns.
So what happens next?
That's unclear. Trump made a statement, not a policy announcement. Whether this leads to actual pressure on Panama, or negotiations, or remains rhetoric—that's still unwritten.