Panama’s president vowed Sunday to end a key development deal with China after meeting with Secretary of State Marco Rubio and after complaints from President Donald Trump that the Latin American country had ceded control over its critical shipping canal to Beijing.

José Raúl Mulino, Panama’s president, said his nation’s sovereignty over the 51-mile waterway, which connects the Pacific Ocean and the Caribbean Sea, will remain unchanged. But he said he would not renew a 2017 memorandum of understanding to join China’s Belt and Road global development initiative and that Panama would instead look to work more closely with the U.S.

“I think this visit opens the door to build new relations … and try to increase as much as possible U.S. investments in Panama,” Mulino told reporters after meeting with Rubio on his first international trip since being confirmed.

Rubio, who was a senator representing Florida before Trump tapped him to be America’s top diplomat, said his team is ready to push the U.S. agenda.

President Donald Trump has expressed concern that the Panama Canal is being controlled by China. (Getty Images)

The U.S. Department of State estimates around 72% of all vessels that travel through the Panama Canal are coming from or going to a U.S. port.

Noting the canal’s strategic importance to the United States, Johnson’s office also noted how the waterway is a key transit point for U.S. Coast Guard and Department of Defense vessels. 

Without access to the canal, ships would be forced to travel 8,000 additional miles around South America. 

“More than 10,000 ships use the Panama Canal each year, generating billions of dollars of tolls which would economically benefit America,” Johnson’s office said.

While the canal and China’s role in the region topped the agenda, Rubio had other items to raise.

“We also discussed efforts to end the hemisphere’s mass migration crisis and ensure fair competition for U.S. firms,” Rubio added.  

Fox News Digital reached out to the State Department but did not immediately receive a response.

Fox News Digital’s Danielle Wallace contributed to this report.