Panama's President Jose Raul Mulino has ruled out negotiations with the US over ownership of the Panama Canal as he prepares to Marco Rubio.

Newly inaugurated U.S. President Donald Trump is pushing to "take back" the Panama Canal, the world's second busiest interoceanic waterway.

Rubio defended Trump's proposed territorial expansions as a 'national interest,' while Denmark and Greenland firmly rejected offers amid concerns over potential military action.

Stephanie: In response to Trump’s inauguration speech, Panama President José Raúl Mulino said that “ the canal is and will remain Panama’s .” As you noted, Trump has already floated the idea of using military force to retake the canal. Do you think this could actually come to pass?

In recent weeks, when he was President-elect Donald Trump publicly said that Panama should return the Panama Canal to the United States, and he would not rule out using military force to reclaim it. At his presidential Inauguration on Monday Trump doubled down on saying that his new administration was going to take back the canal.

Panama is inching closer to China, Trump’s new Federal Maritime Commission head Louis Sola tells CNBC, and ‘all options on the table’ to defend U.S. business.