President Trump wanted the U.S. to retake the Panama Canal. A deal struck by BlackRock will give American investors control of ports on either end of the vital trade route, though not oversight of the canal itself.

U.S. President Donald Trump praised a $22.8 billion deal led by BlackRock (NYSE:BLK) to acquire CK Hutchisons global port assets, including Panama Ports Company, which controls Balboa and Cristobal ports at both ends

That looks set to end. CK Hutchison has reached an agreement that will see the BlackRock-TiL Consortium (BlackRock Inc., Global Infrastructure Partners and Terminal Investment Limited) acquire Hutchison Port Holdings’ 90% interests in Panama Ports Company (PPC),