Posted on December 17, 2025
President Trump’s push to loosen China’s influence in the Panama Canal has hit a wall now that Beijing is demanding that China’s largest shipping company get a controlling stake in a deal to sell dozens of ports to a BlackRock BLK -1.30%decrease; red down pointing triangle-led group.
The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all controlled by Hong Kong-based CK Hutchison 1 0.84%increase; green up pointing triangle. BlackRock and containership operator Mediterranean Shipping Co. reached a $22.8 billion agreement in March to buy them after Trump raised security concerns about Hutchison’s—and the ports’—connection to China.
That deal angered Beijing and, after initially pushing for China’s Cosco to be brought in as an equal partner, it has now upped its demands, according to people familiar with the talks. China is threatening to block the deal unless Cosco gets a majority stake, they say.
