Donald Trump promised on Day 1 to seize the Panama Canal. “We’re taking it back,” the US president declared in his inaugural address. Within weeks, Wall Street billionaire Larry Fink was on the line with the White House.

In response to U.S. pressure over control of the Canal, Panama agreed to end its involvement in China’s Belt and Road Initiative.

BlackRock has agreed to buy two major ports at the Panama Canal from their Hong Kong-based owner, following pressure from Donald Trump over alleged Chinese influence at the vital waterway.