Panama says it will not renew its agreement involving China’s premier foreign investment program after Panamanian leaders met with US Secretary of State Marco Rubio, marking another victory for President Trump.

Panama will allow its 2017 trade and development pact involving China’s “Belt and Road Initiative” to expire, said Panamanian President José Raúl Mulino at a press conference Sunday — after months of threats by Trump to take back the Panama Canal, claiming “American ships are being severely overcharged” and accusing China of “operating” the crucial waterway.

Mulino even said he will explore options to see if his country’s involvement in the agreement can end sooner than the one or two years it may take for it.

The “Belt and Road Initiative” — established in 2013 as China’s main project for investing in foreign infrastructure — has ultimately increased its influence around the world.

Mulino said Panama would be interested in the US investing in the country’s infrastructure instead. But the Panamanian president made sure to add that the canal’s sovereignty is still under Panama.

https://nypost.com/2025/02/03/us-news/panama-to-end-relationship-with-chinas-belt-and-road-initiative/