Panamanian President José Raúl Mulino on Thursday vehemently denied President-elect Trump's claims that of Chinese interference in the Panama Canal. Why it matters: Trump has cited China increasing dominance in trade throughout the Americas as a reason to take control of the Panama Canal,

President Mulino said the ‘canal is Panamanian and there’s no possibility of opening any kind of conversation around this reality’.

Tolls charged for naval ships crossing the canal are based on the amount of water used and the type of ship, Mulino said.