The sale this week of two Panamanian ports from a Chinese company to a U.S. consortium is a victory for President Donald Trump, but it only appears to have whet his appetite for more concessions from Panama’s government.

The flash sale of a Hong Kong-owned global ports business highlights geopolitical volatility, executives and analysts said.

Panama President José Raúl Mulino on Wednesday accused U.S. President Donald Trump of lying when he said in his address to Congress that his administration was “reclaiming” the Panama Canal. Trump was referencing a deal announced Tuesday for a consortium led by the U.