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.

Often a political punching bag for MAGA Republicans, asset manager BlackRock may have bought some conservative credibility along with its purchase of two critical ports on both sides of the Panama Canal.

U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison, including assets it holds along the Panama Canal.

The $23 billion deal, announced by Hong Kong-based CK Hutchison Holdings, transfers control of the Balboa and Cristobal ports to a consortium led by BlackRock, Global Infrastructu