Panama President José Raúl Mulino recently criticized U.S. President Donald Trump for allegedly misleading the public about the Panama Canal. Trump’s claim of “reclaiming” the canal was in reference to a deal involving a consortium led by BlackRock Inc. acquiring a stake from a Chinese group that operates ports at both ends of the canal. Panama has maintained that it retains full control over the canal and that the Chinese group’s operation of the ports did not equate to Chinese control. Mulino denounced any suggestion of U.S. pressure influencing the deal and accused Trump of dishonesty.

Trump’s longstanding view on the Panama Canal, arguing that the U.S. should not have ceded control to Panama, has been a recurring theme since his campaign. Despite U.S. Secretary of State Marco Rubio’s concerns about Chinese influence over the canal’s operations, Panama has refuted such claims. Mulino emphasized the importance of clear cooperation between governments based on mutual interests, distancing it from the notion of reclaiming the canal or compromising national sovereignty.

The deal, involving the sale of shares to the BlackRock consortium by CK Hutchison Holding, is valued at nearly $23 billion. Notably, the transaction is described as a purely commercial endeavor, unrelated to recent political speculations surrounding the Panama Ports. The future of the deal hinges on approval from Panama’s government. The Panama Canal, established by the U.S. in the early 1900s, was officially handed over to Panama in 1999 under a treaty signed by President Jimmy Carter, a move Trump has criticized as a mistake.