Panamanian President Jose Raul Mulino rejected on Thursday talks with Donald Trump over ownership of the Panama Canal, which the US president-elect has promised to restore to Washington.

Mulino also rejected the idea of lowering canal charges for US vessels and claimed that China had no control over the crucial waterway that connects the Atlantic and Pacific seas.

"If there is an intention to talk, then there is nothing to talk about," Mulino stated at a weekly news conference.

He added that the canal is "Panamanian and belongs to Panamanians," further adding, "There's no possibility of opening any kind of conversation around this reality, which has cost the country blood, sweat and tears."

Trump stirred controversy when he criticized what he described as unfair fees imposed on US ships using the man-made canal and suggested that Washington might demand control of the vital waterway be restored to the US.

If Panama could not ensure "the secure, efficient and reliable operation" of the channel, "then we will demand that the Panama Canal be returned to us, in full, and without question," he warned.

In response, Mulino firmly dismissed Trump’s remarks on Sunday, stressing that "every square meter of the Panama Canal and its adjacent areas belongs to Panama and will continue belonging to Panama."

Trump, in turn, responded on Truth Social with a brief retort, "We'll see about that."

Trump's comments have raised questions about the actions he might take, with critics questioning whether he is contemplating drastic measures such as military intervention.

Mulino stated that the usage costs were "not set at the whim of the president or administrator" of the interoceanic canal, but rather through a long-established "public and open process."

On Tuesday, hundreds of protestors gathered outside the US embassy in Panama City, yelling "Trump, animal, leave the canal alone" and burning his photo.