The deal, valued at almost $23bn, comes amid Trump pressure to curb perceived influence of China over the canal

CK Hutchison Holdings, the Hong Kong-based logistics giant, announced plans to sell a majority stake in a business that controls ports in Panama to investors including the US financial giant BlackRock in a deal worth almost $23bn.

The sale of a 90% interest in Panama Ports Company, which holds the contract to run the ports of Balboa and Cristóbal until 2047, comes as Donald Trump piles on pressure to end what he sees as China’s influence and control over the Panama canal.