CITY, State (Fox News) — Panamanian court voids port contract held by Hong Kong subsidiary, causing geopolitical tensions.

Key Facts:

• The Panama Ports Company, a subsidiary of Hong Kong’s CK Hutchison Holdings, had its port concession declared unconstitutional.
• President José Raúl Mulino assured that canal traffic will not be disrupted.
• The decision was welcomed by the U.S. and criticized by Beijing.
• A.P. Moller-Maersk will temporarily operate the ports after the concession is terminated.
• The ruling aligns with U.S. concerns over China’s presence near the Panama Canal.
  

  Image:
  

  
  Caption: Aerial view of the port of Rodman in Panama City. (MARTIN BERNETTI / AFP via Getty Images)

  Quote:
  

  "President Trump, by extracting Nicolas Maduro and his wife from Caracas, ended Chinese influence in Venezuela," said China expert Gordon Chang.

  Image:
  

  
  Caption: Panamanian President José Raúl Mulino at his swearing-in ceremony. (AP Photo/Matias Delacroix)

  Quote:
  

  "The United States is encouraged by the recent Panamanian Supreme Court’s decision to rule port concessions to China unconstitutional," said U.S. Secretary of State Marco Rubio.

  End.