President Donald Trump cited BlackRock's Tuesday deal to acquire Panama Canal ports as part of his administration's broader effort to "reclaim" the crucial waterway.

U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison, including assets it holds along the Panama Canal.

BlackRock has agreed to buy two major ports on the Panama Canal from their Hong Kong-based owner as part of a $22.8bn deal, following pressure from Donald Trump over alleged Chinese influence at the vital waterway.