Donald Trump has begun his second term as president by ramping up pressure on Panama – threatening to “take back” the Panama Canal and accusing the country of ceding control of the strategically critical waterway to a US rival: China.

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.

Under the BRI, a signature initiative of Chinese President Xi Jinping, China has made huge investments in various countries around the world to build major infrastructure projects by extending loans.