Trump org accused of tax evasion in Panama as president-elect threatens to reclaim canal

Over the weekend, Donald Trump went on a bizarre rant about Panama and threatened to take back the canal, which would require an American invasion.

Trump took to Truth Social on Saturday, ranting: “The fees being charged by Panama are ridiculous."

According to Trump, “This complete ‘rip-off’ of our country will immediately stop."

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He then continued the rant on Sunday, speaking to the TurningPoint conference in Arizona saying America was "being ripped off by Panama. We're being ripped off everywhere else."

An audience member shouted, "Take it back!"

"He just said, 'take it back.' Hey, that's a good idea," Trump agreed.

The New Republic pointed out a more personal reason Panama may have stoked Trump's ire: An outstanding tax evasion case.

In 2019, the owners of a hotel tower in Panama City that once operated under the Trump brand accused Trump Organization subsidiaries of not paying the 12.5 percent required taxes to the local government.

The lawsuit alleges that the Trump-named companies kept the money “intentionally evading taxes," which the owners said left them liable for millions.

"A tax audit of the hotels submitted as evidence found massive inconsistencies. The case is still pending in New York District Court," the New Republic reported.

The United States built the Panama Canal in the early 1900s and, on Dec. 31, 1999, returned it to the country as part of a treaty signed in 1977.

“As president, I want to express clearly that every square meter of the Panama Canal and its adjacent zone belongs to Panama, and will continue to do so,” said conservative Panamanian President José Raúl Mulino, in a video statement. “The sovereignty and independence of our country are not negotiable.”

"We'll see about that," Trump replied.