U.S. investment bank JPMorgan has downgraded its recommendation on Panama's bonds after U.S. President Donald Trump ramped up his threat this week to take back the Panama canal.

In his inaugural address, President Donald Trump reiterated threats he has made about the Panama Canal, claiming, "we're taking it back." He'd previously declared that the rates Panama charges for access to the Panama Canal violated the “magnanimous gesture” the U.

U.S. President Donald Trump’s insistence that he wants to have the Panama Canal back under U.S. control is feeding nationalist sentiment and worry in Panama, home to the critical trade route and a country familiar with U.