Mar 28, 2025 - Business

BlackRock's deal for Panama ports gets delayed, source says

Dan Primack

Ship moving through the Panama Canal. Photo: Tarina Rodriguez/Bloomberg via Getty Images

BlackRock will not sign an agreement next week to buy two Panama ports from Hong Kong's CK Hutchison, as originally planned, a source tells Axios.

Why it matters: President Trump touted this deal in his recent address to Congress, and it seemed like an offramp for U.S. threats to retake control of the Panama Canal.

Zoom in: BlackRock and CK Hutchison remain in active discussions and due diligence, but the signing date could slip by weeks or even months, according to a source familiar with the situation.

At issue is growing political opposition from Beijing, which recently called the deal a "betrayal."
The South China Morning Post first reported the delay, which was confirmed by Axios.
There don't seem to be any similar problems with a larger deal between BlackRock and CK Hutchison, which covers 43 ports in 23 countries, although the intention is to close both that and the Panama deal together.

The bottom line: Don't be surprised if this becomes a negotiating chip in tariff talks between the U.S. and China.

Go deeper: BlackRock's Panama ports deal isn't a sure bet

Add Axios on Google

BlackRock's deal for Panama ports gets delayed, source says

What to read next