China's state-owned shipping giant COSCO is seeking to acquire a stake of at least 20% to 30% in a $23 billion consortium deal involving 43 ports, including two strategic ports on the Panama Canal, currently held by Hong Kong billionaire Li Ka-shing's CK Hutchison. The move comes amid Beijing's efforts to revise the terms of the deal, which was previously praised by former U.S. President Donald Trump. The Panama Canal has been owned and administered by Panama for nearly three decades, but the growing Chinese influence in Latin America and the canal's strategic importance have prompted calls from the U.S. to counter Beijing's involvement. The issue has escalated to an international level, with tensions between China and the U.S. being highlighted at the United Nations. Panama's President José Raúl Mulino reaffirmed the canal's neutrality in response to Trump's concerns about Chinese influence, while the U.S. has expressed that China poses a threat to global security and regional stability due to its expanding presence in the canal's operations.