Sectoral analysis reports from the Panama Canal Authority

U.S. Relinquished Control of Panama Canal, Completed in 1914, to Panama on December 31, 1999, Under Torrijos-Carter Treaties

Dec 24, 2024, 07:27 PM

The Panama Canal, a crucial waterway for global trade, was constructed by the United States and completed in 1914. Following a treaty negotiated in 1977 by President Jimmy Carter, the U.S. relinquished control of the canal to Panama on December 31, 1999, during President Bill Clinton's administration. The transfer of control was part of the Torrijos-Carter Treaties, which outlined the gradual handover of the canal's rights to Panama, culminating in the full transfer at the end of the millennium. The canal remains a vital conduit for international shipping, facilitating a significant portion of the world's trade.