Panama Formally Terminates HK Company's Port Contracts

TaiwanPlus News

Panama has formally terminated contracts that gave a Hong Kong company the rights to operate the ports at both ends of the strategic Panama Canal. It was set to keep doing so until 2047 but a Supreme Court ruling in January has annulled the contracts.

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00:00to operate the two ports along the Panama Canal.

00:03This follows a Supreme Court ruling in January that unloved the contracts.

00:07The ports have been operated by a subsidiary of Hong Kong's C.K. Hutchison since the 1990s.

00:13It was said to keep doing so until 2047,

00:16but a U.S.-China rivalry, including conflicts over the Panama Canal,

00:20has complicated the situation.

00:23U.S. President Donald Trump has vowed to bring back U.S. control of the canal,

00:27and Beijing has previously warned of a heavy price if the contracts were ended.

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