Most of the stakes in key ports on the Panama Canal are owned by a Hong Kong-based company and are set to be sold off after Trump announced his waterway plans.

BlackRock's involvement signals a shift from a Hong Kong-based company to a US-led consortium, aligning with Trump's strategy.

President Donald Trump has called for the US to retake control of the Panama Canal unless the cost of passage for naval and merchant ships is slashed. Trump’s refusal to rule out the use of force is a throwback to the 19th century era of gunboat diplomacy.

A group of investors led by BlackRock is to acquire the two strategic ports of Cristobal and Balboa in the Panama Canal for more than 22 billion dollars. "My administration is going to take back the Panama Canal,

: Donald Trump vowed to take back the Panama Canal, claiming that a 1970s agreement to hand over the canal to Panama had been violated. “The Panama Canal was built by Americans for Americans,” he said.

Panama’s president accused Donald Trump of lying to congress after the US leader reiterated his intention to take over the Panama canal.

Trump and his team are right to recognize Panama’s strategic importance, but they are wrong in how they are approaching the issue. During his inaugural address in January, President Trump proclaimed that “China is operating the Panama Canal” and promised that the United States would be “taking it back.