BlackRock's latest acquisition is a big win for Trump
- Alexangel Ventura
- Mar 5
- 1 min read
BlackRock, one of the world's largest investment portfolio companies, recently made a $22.8 billion investment into sites of the Panama Canal.
On Tuesday, a BlackRock-led investment coalition announced that it will take control of several key points of interest of the Panama Canal, specifically two ports which line the canal. These ports were acquired by CK Hutchinson Holding, a Hong Kong-based corporation.
Previously, U.S. President Donald Trump criticized Panama for letting CK Hutchinson control parts of the Panama Canal. The company has had ties with the People's Republic of China, as many companies in the nation have been given great quantities of subsidies in return to concessions to the Chinese government. The Hong Kong company's ownership of various parts of the canal route have provoked fear by Trump, but now his fears have ceased as a key part of China's control over the canal has ended.
However, most importantly, the pathway to acquiring the canal may be substantially easier. With more of it now being under American management (private institutions), the canal authority may be more swayed to give it to the United States.
BlackRock stock fell by 1% by midday on Wednesday.
