The Panama government is looking to revoke its contract with Hong Kong conglomerate CK Hutchison (HKG:0001), which operates ports near the Panama Canal, Bloomberg News reported Tuesday, citing people with knowledge of the situation.

Should Panamanian President Jose Raul Mulino's threat go through, it would appease US President Donald Trump's threats against Panama over China's influence around the canal, the report said.

Hutchison Ports operates two out of five ports surrounding the canal, one on each side, the report said.

The US completed construction of the canal in 1914 and ceded control over the canal to Panama in 1999 under a treaty signed decades ago by President Jimmy Carter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)