Taxpayers lose again?

A BlackRock-led investment group is acquiring a 90% stake in the Panama Ports Company, which owns and operates the Panamanian ports of Balboa and Cristobal. The purchase is being made from a Hong Kong-based corporation and will require the Panamanian government’s approval.

Although the seller is not owned by the Chinese government, it operates under the CCP’s financial laws, sparking the Trump administration’s concerns that the canal has fallen under disproportionate Chinese influence. That will no longer be the case.

While the transaction is a victory in the sense that it will reduce China’s global reach, the hope was that American taxpayers, not just asset managers like BlackRock, would benefit from the canal’s sale.

The U.S. is the canal's largest user, with about 70% of its shipping traffic either coming to or from the United States.