US diplomatic pressure has prompted Panama to reduce Chinese commercial influence at canal ports through a January 2026 Supreme Court ruling annulling a Hong Kong-based concession and subsequent transfers to Western operators, alongside expanded bilateral security cooperation under a 2025 memorandum. These steps have advanced US access and neutrality goals without altering Panamanian sovereignty or triggering military intervention. The Torrijos-Carter Treaties, ongoing canal operations by the Panama Canal Authority, and absence of escalation in the final months before 2027 underpin trader consensus against a US takeover. Late shifts could arise only from unforeseen treaty violations or major security crises prompting direct intervention.