Senate hearing on Panama Canal: China’s grip has been around for a while

Competition with China was front and center at a Senate hearing on the Panama Canal.

The Chair of the Federal Maritime Commission told lawmakers China’s grip has been around for some time.

“It’s a problem that has been going on for 20 years, which makes it very difficult to answer your question. It is a long answer. This is not a problem that occurred last week. This is not something that President Trump identified, this was going on all President Biden’s term, but of all of President Trump’s first term. It has been going on for decades and decades through both U.S. Republicans and Democrats as President. The only thing I can say is I echo was Ranking Member Cantell said, and I think others of both parties have echoed it, that we need some sort of overall maritime strategy. We have to acknowledge that this is part of our national security,” said Daniel B. Maffei.

During the hearing, Texas Senator Ted Cruz emphasized that China’s influence on the Canal is a national security risk. They also discussed shipping fees and ways to minimize the impact on American businesses.

Related Stories
RealAg Radio host Shaun Haney explains shifting global trade dynamics and what they could mean for agriculture and energy markets.
Rising input costs may squeeze margins and shift planting decisions. Scott Metzger with the American Soybean Association discusses fertilizer market pressures and what is at stake for farmers as planting season ramps up.
Texas ranchers and lawmakers warn of renewed New World screwworm risks, highlighting prevention efforts, border concerns, and the role of sterile flies in protecting U.S. livestock.
Shaun Haney with Real Ag Radio joined us to break down the USMCA review and what Canadian producers and exporters should be watching in the months ahead.
Fertilizer relief may be limited despite the reopening of the Strait of Hormuz this week. AgriSompo’s Brooks York discusses marketing strategies, crop insurance considerations, and other tips for producers navigating volatility this planting season.
Reduced driver supply may increase freight costs this season.

LATEST STORIES BY THIS AUTHOR:

Financial matters in farming can be frustratingly complicated, especially when it comes to the process of filing for bankruptcy. That is the topic tackled in today’s blog post by Farm-Legal Expert Roger A. McEowen—the definition of “insolvency” for purposes of the exclusion from income of CODI.
The “farm products rule,” and the 1985 Farm Bill modification and its application – that is the topic of today’s blog post from Agri-Legal Expert Roger McEowen.
Now that Washington lawmakers have passed a 45-day stopgap, they have some breathing room to work through some hot-button topics like the high cost of the upcoming Farm Bill, which is due in large part to the funding necessary to support the Nutrition Title.
A recent news story involving a group of farmers in Mississippi reveals the potential downside of selling grain under a deferred payment contract. The risk of deferred payment ag commodity sales and what can be done for protection—that is the topic of today’s blog post.
Recently, a bank in Texas got confused on the financing rules governing agricultural crops and lost its security interest as a result. Ag financing and priority rules among competing security interests—that is the topic of today’s post.