An investment consortium led by BlackRock, the world’s largest asset manager, has agreed to acquire two strategically positioned ports at either end of the Panama Canal from Hong Kong-based CK Hutchison.

The deal, valued at approximately $19 billion, includes the ports of Balboa and Cristobal, as well as over 40 other ports in 23 countries.

The transaction comes amid heightened geopolitical concerns over China’s role in global trade and allegations from President Donald Trump that Beijing has undue influence over the vital shipping route.

However, the deal must still receive approval from Panama’s government before moving forward.

What does the deal entail?

Under the terms of the deal, BlackRock’s consortium will take control of 43 ports, including key facilities in Mexico, the Netherlands, Egypt, Australia, and Pakistan.

Notably, the acquisition does not include any interests in CK Hutchison’s port operations in Hong Kong, Shenzhen, or other parts of China.

“These world-class ports facilitate global growth,” BlackRock CEO Larry Fink said in a statement.

“Through our deep connectivity to organizations like Hutchison and governments around the world, we are increasingly the first call for partners seeking patient, long-term capital.”

What are Trump’s claims about Chinese influence on the canal?

The Panama Canal, a key transit route for global trade, was originally constructed by the US in the early 20th century and was handed over to Panama in 1999 under a treaty signed by President Jimmy Carter in 1977.

BlackRock’s acquisition follows a series of statements from Trump and his allies, who have expressed concern over CK Hutchison’s presence in Panama.

The president has repeatedly claimed, without evidence, that China controls the canal and has suggested that the US should retake control of the waterway.

“China is operating the Panama Canal. And we didn’t give it to China. We gave it to Panama, and we’re taking it back,” Trump said in his inaugural address.

In January, he further suggested that military force or economic pressure could be used to regain influence over the canal.

Although Trump’s assertion about China’s control of the canal is unproven, growing Chinese influence in global shipping and port infrastructure has raised concerns among US officials, who worry that the Chinese government could pressure private companies to disrupt commercial and military shipments during a conflict.

Observers believe the sale to BlackRock could help alleviate concerns within the US government about Chinese influence in the region.

CK Hutchison says transaction purely commercial

CK Hutchison, which has operated the Balboa and Cristobal ports for decades, emphasized that the sale was purely a commercial decision.

Co-Managing Director Frank Sixt stated that the company had received multiple bids and ultimately chose BlackRock’s offer through a competitive process.

“I would like to stress that the transaction is purely commercial in nature and wholly unrelated to recent political news reports concerning the Panama ports,” Sixt said.

Curiously, the sale follows Panama’s recent decision to extend Hutchison Ports’ contract by 25 years without a competitive bidding process.

However, an audit was already underway to evaluate the extension, prompting speculation that a US-aligned firm might take over operations.

According to AP, observers believed the audit was a preliminary step toward eventually rebidding the contract, but rumours had swirled in recent weeks that a US firm close to the White House was being lined up to take over.

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President Donald Trump delivered a high-stakes address to a joint session of Congress on Tuesday night, as financial markets reeled from his newly imposed tariffs on Canada, Mexico, and China.

Adding to the political turbulence, his administration faced backlash over Elon Musk’s controversial push to slash federal spending and reduce the government workforce.

The speech followed a dramatic confrontation between Trump and Ukrainian President Volodymyr Zelenskyy in the Oval Office last Friday, culminating in Trump’s decision to temporarily halt US military aid to Ukraine amid its ongoing conflict with Russia.

Democrat Rep. Al Green interrupts Trump

Tensions flared early in the address when Texas Democrat Rep. Al Green interrupted the president.

Green was swiftly removed from the House chamber after refusing to yield the floor.

Meanwhile, a group of House Democrats silently protested by holding signs that read “Save Medicaid” and “Musk Steals.”

‘Golden Age of America’

Framing his speech around “the renewal of the American dream,” Trump declared, “Six weeks ago, I stood beneath this Capitol’s dome and proclaimed the dawn of the Golden Age of America.”

He emphasized that his administration had accomplished more in just 43 days than most do in four or even eight years, vowing that this was only the beginning.

Trump underscored his commitment to economic recovery, promising swift relief for working families and vowing to tackle inflation.

He pointed to the soaring price of eggs, blaming his predecessor, Joe Biden, for failing to control costs.

“The American Dream is unstoppable,” Trump proclaimed, “and our country is on the verge of a comeback unlike anything the world has ever seen.”

Throughout the speech, he reinforced his hardline stance on immigration, energy independence, and the elimination of diversity, equity, and inclusion programs within the federal government.

He also championed his latest trade policies, which saw fresh tariffs of 25% on imports from Canada and Mexico and a 20% levy on Chinese goods take effect that same day.

With bold rhetoric and sweeping promises, Trump painted a picture of an America poised for a historic resurgence—one that, he insisted, would redefine prosperity for generations to come

Trump’s key remarks on Ukraine, Greenland, trade, and more

Trump discusses Zelenskyy and Ukraine peace efforts

During his speech, President Donald Trump revealed that he had received a letter from Ukrainian President Volodymyr Zelenskyy earlier in the day. According to Trump, Zelenskyy expressed Ukraine’s willingness to negotiate for peace as soon as possible, emphasizing that no one desires peace more than the Ukrainian people.

“Ukraine stands ready to work under President Trump’s strong leadership to secure a lasting peace,” the letter reportedly stated. It also acknowledged America’s role in supporting Ukraine’s sovereignty and affirmed Kyiv’s readiness to sign agreements on minerals and security at a time of Trump’s choosing.

Trump welcomed Zelenskyy’s message and noted that discussions with Russia had also indicated a willingness to pursue peace. “Wouldn’t that be beautiful?” he remarked.

Trump extends an invitation to Greenland

Revisiting a long-standing geopolitical interest, Trump once again spoke about Greenland, expressing his administration’s openness to incorporating the Arctic territory into the United States.

“We fully support your right to determine your own future,” Trump declared. “And if you choose, we welcome you into the United States of America.” He stressed Greenland’s strategic importance for national and international security and affirmed ongoing efforts to make the proposal a reality.

“And I think we’re going to get it—one way or another,” he added confidently.

Trump on DOGE and government efficiency

Trump took a moment to praise Elon Musk’s Department of Government Efficiency (DOGE), crediting the initiative with uncovering massive amounts of fraud within federal operations.

He asserted that Musk’s department had identified “hundreds of billions of dollars” in fraudulent activities—a claim exceeding previous estimates by the administration. Trump also noted that in just six weeks, DOGE had saved American taxpayers $105 billion by canceling unnecessary contracts, terminating employees, and eliminating wasteful spending.

Trump on China and trade policy

Turning to trade, Trump reassured American farmers that his economic policies would benefit them significantly.

“My new trade policy is going to be great for the American farmer. I love the farmer,” he stated.

He reflected on a trade deal with China from his first term, which had included commitments from Beijing to increase agricultural purchases—a promise he noted China had failed to fulfill.

Trump on illegal immigration

Addressing immigration, Trump claimed that 21 million people had entered the U.S. illegally under President Joe Biden’s administration, alleging that many posed security risks.

However, U.S. Border Patrol statistics indicate that approximately 7 million migrants were arrested for illegal crossings during Biden’s presidency, a figure that includes repeat offenders.

With bold statements and sweeping promises, Trump’s speech reinforced his vision for American leadership on global and domestic fronts, underscoring his commitment to economic growth, security, and efficiency.

‘Gold card’

Trump has reiterated his plan to introduce a “gold card,” a special immigration initiative that would grant a pathway to U.S. citizenship for foreigners willing to invest $5 million.

“We will welcome the world’s most successful job creators by allowing them to purchase a fast track to U.S. citizenship,” Trump stated. “Think of it as a green card—only better and more advanced.”

However, details on how the program would be implemented remain unclear, particularly since launching such an initiative would typically require congressional approval. Despite this, Trump insisted the gold card would be available “very, very soon.”

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The United States may revise its trade policies with Canada and Mexico, as US Commerce Secretary Howard Lutnick confirmed that President Donald Trump is considering rolling back certain tariffs.

The potential move, expected as early as tomorrow, follows negotiations with officials from both countries. Trump is not expected to eliminate tariffs.

Instead, adjustments will likely be conditional on Mexico and Canada addressing key concerns raised by the administration.

Lutnick’s comments come at a critical moment for financial markets, which have been reacting sharply to trade policy uncertainty.

The largest technology stock ETF surged nearly 1% in late trading, while index futures rebounded from earlier declines. The tariff debate has also had a ripple effect on cryptocurrency markets, which saw sharp swings following the announcement.

Trade tensions ease, but tariffs remain a tool

While Trump has signalled a willingness to adjust tariffs, Lutnick stressed that the administration still views them as a critical negotiation tool.

The 25% tariffs on Canadian and Mexican imports, which have been in place for months, are not expected to be removed entirely. Instead, Trump may introduce modifications aimed at addressing concerns from both trade partners.

Lutnick did not provide exact details on the potential changes but indicated that Canada and Mexico have been actively engaging with the US government to seek a resolution.

He acknowledged that the administration is open to “meeting in the middle” but emphasised that both countries would need to address specific issues raised by the White House.

These remarks came ahead of Trump’s scheduled primetime address to Congress, where he is expected to outline his economic strategy, including his approach to international trade.

The president has repeatedly stated that tariffs help protect US industries and reduce the trade deficit, despite concerns from economists and business leaders about their long-term impact.

Expanding the trade war

While Trump appears open to revising trade measures against Canada and Mexico, he has remained firm on tariffs against China.

The US raised levies on Chinese imports to 20%, with Beijing responding by imposing 15% tariffs on US farm goods, effective next week.

The ongoing trade battle has added pressure on American manufacturers and exporters, particularly in the agriculture and technology sectors.

Beyond China, Trump has also turned his attention to the European Union. He has threatened new tariffs on European goods, further escalating trade tensions.

Analysts warn that such a move could trigger retaliatory actions from the EU, potentially destabilising global trade and financial markets.

Investors have been closely monitoring these developments, with stock prices fluctuating in response to tariff-related announcements.

Crypto markets react to trade policy shifts

The uncertainty surrounding US trade policy has not only impacted equities but also sent shockwaves through cryptocurrency markets.

Bitcoin, which initially plummeted over 9% to $83,000 following Lutnick’s announcement, has since rebounded and is now trading at $87,723, marking a 4% gain in the last 24 hours.

Other major cryptocurrencies, including Ethereum, XRP, Solana, and Cardano, have also recovered, rising by 5%, 9%, 5%, and 22%, respectively.

The broader cryptocurrency market is now valued at nearly $4 trillion, reflecting a 4% increase over the past day.

Crypto-related stocks have also seen gains, with MicroStrategy (MSTR) rising 9.55%, Coinbase (COIN) up 3.22%, and Marathon Digital (MARA) gaining 1.34%.

The link between trade policies and crypto market movements underscores the growing role of digital assets in global finance.

Investors are increasingly using cryptocurrencies as a hedge against economic uncertainty, with Bitcoin and other major tokens reacting to geopolitical events like traditional assets.

As Trump prepares to address the nation, traders and policymakers alike will be watching closely for further details on his tariff strategy.

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Rep. Al Green, a Texas Democrat, was removed from the House chamber on Tuesday after disrupting Donald Trump’s address to Congress.

The veteran lawmaker, known for his past impeachment efforts against Trump, openly challenged the former president’s claim of a broad electoral mandate.

Green’s protest, which included vocal opposition to proposed Medicaid cuts, quickly escalated into a tense confrontation on the House floor.

The incident highlighted deep divisions within Congress as Trump laid out his policy agenda.

While Republicans celebrated Green’s removal, chanting “Goodbye!” as he was escorted out, the moment underscored ongoing political tensions surrounding Trump’s return to office.

Green’s history of vocal opposition to Trump dates back to the former president’s first term when he was among the earliest lawmakers to push for impeachment.

Al Green’s background

Al Green, 77, has served as the US representative for Texas’ 9th congressional district since 2005.

Born in New Orleans, he earned a law degree from the Thurgood Marshall School of Law at Texas Southern University in 1974 before beginning his political career as a justice of the peace in Harris County.

His congressional tenure has been marked by a strong focus on civil rights, economic justice, and healthcare access.

Green’s clashes with Trump are well-documented. In 2017, he became the first lawmaker to introduce articles of impeachment against Trump, citing obstruction of justice in the Russia investigation.

He later forced multiple House votes on impeachment, drawing the ire of Republican lawmakers and some moderate Democrats. His continued opposition to Trump’s policies has remained a defining feature of his tenure in Congress.

The disruption in Congress

Tensions flared early in Trump’s address when he declared, “The presidential election of Nov. 5 was a mandate like has not been seen in many decades.” Seated near the aisle, Green immediately stood and shouted, “You have no mandate.”

His comments, aimed at disputing Trump’s electoral legitimacy and proposed Medicaid cuts, triggered a heated response from Republican lawmakers.

House Speaker Mike Johnson warned Green to stop his outburst or face removal. However, the Texas Democrat continued to interject, prompting Johnson to order the Sergeant at Arms to restore order.

As Green was escorted out, Republican members loudly jeered, chanting “Nah nah nah nah, goodbye.” Green, undeterred, continued to voice opposition to Trump’s policies while being removed from the chamber.

Outside, Green defended his actions, stating that Trump’s claims of a mandate were misleading and that his proposed budget would harm vulnerable Americans.

The moment added to an already charged atmosphere in Congress, with members of the Democratic Women’s Caucus wearing pink in protest and others displaying messages critical of Trump’s policies.

Protests during Trump’s speech

Green’s removal was just one of several demonstrations during Trump’s speech. Democratic lawmakers expressed dissent in various ways, with some donning blue and yellow ties in support of Ukraine.

Others displayed messages accusing billionaire Elon Musk of threatening Social Security, reflecting broader concerns over economic policy changes under Trump’s leadership.

Several Democratic representatives also revealed T-shirts with slogans such as “Resist” and “No more kings,” while Rep. Rashida Tlaib held up a whiteboard reading, “THAT’S A LIE.”

The display of defiance underscored ongoing divisions in the House, where Trump’s policies on healthcare, social security, and foreign relations have faced strong pushback.

Despite warnings from House Democratic leadership to maintain decorum, the speech saw multiple disruptions.

Minority Whip Katherine Clark had urged members to avoid using props, while Minority Leader Hakeem Jeffries advised lawmakers to focus on the impact of Trump’s policies rather than making the moment about personal protests.

However, the charged atmosphere made it clear that bipartisan cooperation remains elusive.

Trump’s return to the congressional stage reignited old political battles, with Green’s removal symbolising the lingering animosity between the former president and his critics.

As the dust settles, Green’s protest is likely to remain a defining moment in the latest chapter of the Trump era.

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China, aiming to restructure its economy and meet ambitious growth targets, has pledged to address overproduction challenges in its steel and oil sectors, according to a Bloomberg report.

These two industries, which are among the country’s worst-performing and most environmentally damaging, have been grappling with excessive output for a considerable period.

The Chinese government’s pledge to address this overproduction signifies a significant step towards aligning the country’s economic development with its environmental goals. 

By curbing the surplus output in these sectors, China aims to enhance their efficiency, promote sustainable practices, and reduce their ecological footprint.

This move also reflects China’s broader strategy to transition from a manufacturing-driven economy to a more service-oriented and innovation-led model. 

Additionally, China aims to create a more balanced and resilient economy that is capable of delivering sustained growth in the long run.

Energy use shifting in China

China’s National Development and Reform Commission announced cuts to steel output at the annual policy meeting in Beijing on Wednesday.

The country’s energy use is rapidly shifting due to the electrification of transport. As a result, the economic planning agency is urging refiners to reduce fuel production and increase the production of petrochemical products.

Commodity markets, already struggling with overcapacity and wary of the potential economic slowdown from a trade war with the US, showed little reaction to China’s ambitious spending plans.

Moreover, China has reaffirmed its commitment to economic growth by maintaining a GDP growth target of approximately 5% for the third consecutive year. 

This objective is supported by ambitious fiscal policies, including the largest fiscal deficit target in over three decades and a pledge to increase local government bond issuance to unprecedented levels. 

These measures, as outlined in work reports presented at the National People’s Congress, highlight the government’s proactive approach to stimulating economic activity and ensuring sustained growth amid a complex and evolving global economic landscape.

A top priority for policymakers will be to implement swift and effective measures to bolster domestic demand. 

This could involve a multi-faceted approach encompassing fiscal stimulus, such as targeted tax cuts or direct spending on infrastructure projects, to inject money into the economy and encourage consumer spending and business investment. 

Additionally, monetary policy measures, such as lowering interest rates or implementing quantitative easing, could be employed to make borrowing cheaper and stimulate economic activity. 

China’s potential shift in spending priorities

The slight increase in benchmark copper prices and the simultaneous decrease in iron ore prices indicate a potential shift in spending priorities. 

This shift appears to favor private consumption and new, innovative industries over state investment in traditional, heavy industries.

Copper, often seen as a bellwether for economic health due to its widespread industrial use, suggests a positive outlook for sectors like construction, electronics, and renewable energy. 

These sectors are typically associated with private consumption and new economic development. 

On the other hand, the decline in iron ore prices, a key ingredient in steel production, hints at a potential slowdown in state-driven infrastructure projects and heavy manufacturing. 

The government has acknowledged the difficulties it has faced in transitioning to new growth drivers after a disappointing recovery from the pandemic. 

This is evident in its unambitious goal for reducing energy intensity, which effectively abandons its five-year target.

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