Topic: Maritime Trade

Mimi Smith-Dvorak and Adam Curry discuss the geopolitical shift involving China, Russia, and Iran. They argue that China's control over global shipping lanes and its reliance on sanctioned oil from Venezuela and Iran is a direct challenge to American dominance. The hosts suggest that the U.S. is in a "Cold War" with these powers, who are attempting to displace the U.S. dollar in international trade.

Panamanian President José Raúl Mulino rejected Donald Trump's claims that China controls the Panama Canal. Trump argued that the U.S. is being overcharged for tolls while China receives favorable treatment. Local producers in Panama report that the country is seeking investment from the World Economic Forum following the diplomatic friction.

China has called for the protection of civilian vessels in the Red Sea, as 60% of its exports to Europe pass through the Bab al-Mandab Strait. The strait is a critical chokepoint for 12% of global trade and 10% of the world's seaborne oil and gas.

Iran announces plans to send aid ships to the blockaded Gaza Strip, escalating tensions in the region. In response, Treasury Secretary Tim Geithner announces sweeping new sanctions targeting over 90 Iranian ships and 22 petroleum and insurance companies to cripple the nation's maritime and energy sectors.