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Noel Maurer and Carlos Yu, The Big Ditch: How America Took, Built, Ran, and Ultimately Gave Away the Panama Canal, Princeton University Press, 2011. Mary C. Swilling, "The Business of the Canal: The Economics and Politics of the Carter Administration's Panama Canal Zone Initiative, 1978". Essays in Economic & Business History (2012) 22:275-89.
The Panama Canal cost the United States about $375 million, including $10 million paid to Panama and $40 million paid to the French company. Although it was the most expensive construction project in US history to that time, it cost about $23 million less than the 1907 estimate despite landslides and an increase in the canal's width.
The Panama Canal treaties were approved by a bipartisan coalition of senators who accepted a counterintuitive reality: Giving up the canal was the best way to retain its use. Opinion - Carter’s ...
President-elect Trump said on Tuesday that negotiating away the Panama Canal was a "very big mistake" by former President Jimmy Carter – ahead of Carter's state funeral later this week.. Trump ...
The Carter administration, in collaboration with Panamanian leader Omar Torrijos, negotiated two key treaties: the “Permanent Neutrality Treaty” and the “Panama Canal Treaty.”
Administration of the canal has been more efficient under Panama than during the U.S. era, with traffic increasing 17% between fiscal years 1999 and 2004. Panama's voters approved a 2006 referendum authorizing a major expansion of the canal to accommodate larger modern cargo ships. The expansion took until 2016 and cost more than $5.2 billion.
A referendum on the Torrijos–Carter Treaties was held in Panama on 23 October 1977. Voters were asked whether they approved of the treaties with the United States, which would give Panama control of the Panama Canal in 1999 and abrogate the Hay–Bunau-Varilla Treaty of 1903. Around 67% voted in favour, with a voter turnout of 97.3%. [1]
On Tuesday, Trump criticized former President Jimmy Carter for ceding control of the Panama Canal to the Panamanian government even though the U.S. spent vast sums of money and manpower to build ...