Panamanian President José Raúl Mulino on Thursday vehemently denied President-elect Trump's claims that of Chinese interference in the Panama Canal. Why it matters: Trump has cited China increasing dominance in trade throughout the Americas as a reason to take control of the Panama Canal,

Panama President Jose Raul Mulino said China has no stake in the Panama Canal and US warships pay the same toll rates as other nations, pushing back against Donald Trump’s threats over the key waterway.

U.S. President-elect Donald Trump has picked Miami-Dade County Commissioner Kevin Marino Cabrera to serve as ambassador to Panama after having threatened for the U.S. to reassert control over the Panama Canal it handed over 25 years ago.