Newly inaugurated U.S. President Donald Trump is pushing to "take back" the Panama Canal, the world's second busiest interoceanic waterway.

Panama is inching closer to China, Trump’s new Federal Maritime Commission head Louis Sola tells CNBC, and ‘all options on the table’ to defend U.S. business.

For close to a month, President-elect Donald Trump has warned that the Panamanian government needs to reduce the shipping rates and fees placed on U.S.-based vessels going through the Panama Canal, unless it wants the U.