The canal was turned over to Panama on Dec. 31, 1999. For Carter, the deal signified a new beginning of mutual respect and cooperation between the U.S. and Latin America, as he said in his speech in 1978. It also showed “the last remnant of alleged American colonialism is being removed” during a time when the world moved away from imperialism.

Panama celebrated on Tuesday the 25th anniversary of the transfer of the interoceanic canal from the United States with an event full of patriotism.

Carter viewed the Panama Canal transfer as a defining moment of his presidency, while Donald Trump recently reignited debate, calling it a "giveaway."

Treaties ratified by the Senate in 1978 established permanent neutrality, but some Republicans regret that decision.

Panama on Tuesday marked the 25th anniversary of the United States' handover of its interoceanic canal, a milestone overshadowed by President-elect Donald Trump's threat to demand control be returned to Washington.