Panama's José Raúl Mulino announced that his country would not renew its agreement with China's Belt and Road Initiative following a visit from Secretary of State Marco Rubio.

President José Mulino said Panama's sovereignty over the world's second busiest waterway is not up for discussion.

Panama’s president reiterated on Sunday that Panama’s sovereignty over the Panama Canal is not up for debate, saying that during talks with US Secretary of State Marco Rubio that he had addressed the United States’ concerns over China’s presence around the vital waterway.

Panama is weighing whether to cancel its contract with the Hong Kong-based company that operates ports near the Panama Canal, according to people with knowledge of the situation, a potential concession to defuse President Donald Trump’s threats about countering China’s influence around the key waterway.

Two Panamanian lawyers filed a complaint Monday to cancel the concession of a Hong Kong-based company for operating two ports on the Panama Canal, following US President Donald Trump's threats

Panama could cancel its contract with Hong-Kong based Hutchison Ports PPC that operates near the Panama Canal. This after President Donald Trump has raised questions about China's influence over the canal.