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“Taking it Back”: Internal House GOP Memo Outlines Case for Trump to Buy Panama Canal
A recent internal memo from the policy committee of House Republicans has outlined a strong argument in favor of President Donald Trump’s proposal to re-purchase the Panama Canal, which is currently under Panamanian control.
According to the memo, which was obtained by Fox News, the committee believes that it would be beneficial for the United States to take back ownership of the vital waterway. The document highlights the importance of the canal in global maritime trade and its strategic value to American interests.
The memo states that around 5% of all global maritime traffic passes through the Panama Canal, a significant reduction in distance and danger compared to navigating around South America. This would result in considerable cost savings for ships and a boost to international commerce.
Additionally, the document emphasizes the substantial investment that the United States has made in the canal over the years. As the memo notes, “The United States is Panama’s largest provider of foreign direct investment—$3.8 billion annually.”
This move could also see an increase in U.S. control and influence over the region.
Furthermore, it points out the involvement of Chinese companies in the construction of a $1.4 billion bridge project spanning the canal, stating that “Chinese companies now operate ports at both ends of the canal.”
The memo emphasizes that any attempts to re-purchase the canal must be done while respecting the existing treaties and agreements governing its operation.
Source: http://www.foxnews.com
