Xi Jinping angry over Panama port deal with U.S

Panama signed a deal with China's Belt and Road Initiative in 2017, which required it to recognize Taiwan as part of China. This move conflicted with U.S. foreign policy. Recently, Chinese officials expressed concern when former President Donald Trump celebrated a U.S. firm, BlackRock, buying a significant portion of a $22.8 billion port business in Panama. This deal includes important assets near the Panama Canal. Chinese leader Xi Jinping is reportedly angry about this arrangement, especially since BlackRock did not consult with Beijing before proceeding. Reports indicate that Xi's administration had intended to use the port situation to negotiate with the Trump administration but felt blindsided by the new deal. Chinese state media have characterized Panama's cooperation with Trump as a betrayal. Various Chinese authorities are now reviewing the deal to explore ways to hinder its progress. However, they face challenges since the assets involved are outside of mainland China and Hong Kong. This situation creates a dilemma for Xi Jinping. He must show his displeasure with the Hong Kong company's actions while avoiding actions that could heighten tensions with the U.S. So far, China has responded cautiously to Trump's tariffs on Chinese goods, indicating a desire to maintain stability. The U.S. State Department has deemed China's influence over the Panama Canal a potential threat. Trump has previously stated that his administration aims to reclaim control over the canal from Chinese interests. Despite this, Xi's government acknowledges its limited foothold in Panama, as the Hong Kong firm operates in ways that may not align with mainland interests.