Panamanian President Jose Raul Mulino said on Wednesday morning that U.S. President Donald Trump was lying when he said that the North American leader's administration was "reclaiming" the Panama Canal.

The announcement of the deal comes as President Donald Trump has made threats against Panama over China’s involvement in the canal. The president has said the U.S. never should’ve handed over control of the canal in the 1970s after building the canal in the early 20th century.