Here's your Forbes Daily Briefing for Tuesday, March 25th.

Today on Forbes, as Trump makes Panama Canal demands, meet the Swiss billionaire who bought two key ports with BlackRock.

During his speech to a joint session of Congress on March 4th, President Donald Trump touted a deal that had closed that day for two ports

on the Panama Canal. He said, quote, just today, a large American company announced they are

buying both ports around the Panama Canal. Politicians in the audience gathered at the Capitol,

applauded. The deal to which Trump was referring was the sale of 43 ports owned by billionaire Lee

K. K. Hachings' Hong Kong-based conglomerate, C.K. Hutchison, to a group led by asset

manager BlackRock for $23 billion, and the two Panama ports were just a small part of it.

What Trump didn't say was that one of the two partners

in the deal, Terminal Investment Limited, is an arm of Swiss shipping giant Mediterranean

shipping company, commonly known as MSC, co-founded by Swiss Italian billionaires, Jean-Louigi

and Rafael Apante, in 1970.

While the ownership structure of the sale hasn't been made public, the deal will turn MSC into the largest port operator in the world,

with stakes in more than 100 terminals in 54 countries,

including eight in the U.S. and three in Panama.

MSC owns 70% of terminal investment,

while investment firm Global Infrastructure Partners, or GIP,

led by U.S. billionaire Adebayo Bayo Ogunlezi,

and now owned by BlackRock, which bought it for $12.5 billion in October,

holds 20%,

and the Singaporean sovereign wealth fund,

GIC, owns the remaining 10%.

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