The agreement will give a BlackRock consortium a majority stake in two terminal ports. Trump has said he wants the trade route under US control.

BlackRock Inc. led one of the biggest acquisitions of the year in a deal that marked both the firm’s expanded reach in infrastructure and a win for US President Donald Trump, who had raised concerns over control of key ports near the Panama Canal.

Panama President José Raúl Mulino on Wednesday accused U.S. President Donald Trump of lying when he said in his address to Congress that his administration was “reclaiming” the Panama Canal. Trump was referencing a deal announced Tuesday for a consortium led by the U.

BlackRock's involvement signals a shift from a Hong Kong-based company to a US-led consortium, aligning with Trump's strategy.