WASHINGTON

President Donald Trump said Friday that Panama violated its agreement with the US on the Panama Canal and declared that the US will take back control of the canal.

Speaking to reporters from the Oval Office, Trump noted that Secretary of State Marco Rubio is heading to various countries in South America.

"He's going to be meeting in Panama, where Panama has treated us very badly," said Trump. "We built the Panama Canal 110 years ago. Think of it, the most expensive development we ever did, and really one of the wonders of the world, one of the great wonders of the world."

"We didn't give it to China. We gave it to Panama, and Panama has been ripping down all the China language signs. They've been working like mad to try, but about 70% of the signs were up and they were written in Chinese, and that's not the deal," he said.

"So, we're going to take it back. They've already offered to do many things, but we think it's appropriate that we take it back. They've totally violated the agreement. We have an agreement. They violated the agreement, and Marco Rubio is going over there to talk to the gentleman that's in charge," he added.

Trump has repeatedly expressed a desire to reclaim the canal, citing concerns that American ships are being overcharged.

The president has criticized the high tariffs for transiting the canal and argued that the 1999 transfer of control to Panama was intended as a gesture of cooperation, not a concession.