Panama will withdraw from the current Chinese project, “One Belt - One Road,” in the framework of which there is a cooperation between the countries on the use of the Panama Canal for trade purposes. This was announced by the country's president, Jose Raul Mulino, on February 3.

“I have made an important decision and I am informing you of it. My government will not renew the 2017 Memorandum of Understanding on the One Belt, One Road initiative. It is so. We will explore the possibility of completing the project ahead of schedule,” Mulino said after talks with U.S. Secretary of State Marco Rubio.

According to the Panamanian president, Rubio “did not make a credible threat” to return the Panama Canal to U.S. control or “use force,” but said U.S. President Donald Trump considers China's presence in the region a violation of the treaty under which Washington ceded control of the canal to Panama. Beijing's influence on the important shipping lane in the first place violates the “permanent neutrality” obligations of the United States-built canal stemming from treaties between Washington and Panama, the US secretary of state explained, and therefore changes in its use must come “immediately”.