(Reuters) <\/p>\n\n\n\n
April 28 – The United States, Bolivia, Costa Rica, Guyana, Paraguay, and Trinidad and Tobago \u200breleased a joint statement in support of \u200cPanama’s sovereignty on Tuesday, saying recent actions by China are an attempt to politicize maritime trade and infringe on the sovereignty \u200bof nations in the hemisphere.<\/p>\n\n\n\n
“We are monitoring with \u200bvigilance China\u2019s targeted economic pressure and the recent \u2060actions that have affected Panama-flagged vessels,” the statement \u200bsaid. “Panama is a pillar of our maritime trading system, \u200band as such must remain free from any undue external pressure.”<\/p>\n\n\n\n
Panama’s Supreme Court in late January invalidated the legal framework supporting \u200bthe 1997 concession granting CK Hutchison’s Panama Ports \u200bCompany the right to operate the Balboa and Cristobal terminals \u200con \u2060the Pacific and Atlantic sides of the Panama Canal.<\/p>\n\n\n\n
The cancellation followed mounting U.S. pressure to curb Chinese influence around the strategic canal, which handles about 5% \u200bof global maritime \u200btrade.<\/p>\n\n\n\n
CK Hutchison, \u2060which operated the ports for nearly 30 years, has rejected the court ruling, \u200baccused Panamanian authorities of unlawfully seizing property, \u200band \u2060launched an international arbitration case against the country, claiming damages of more than $2 billion.<\/p>\n\n\n\n