Panama Canal Treaty.

The Panama Canal Treaty signed between the United States and Panama in 1977. The treaty terminates prior agreements and establishes a new relationship between the two countries regarding the Panama Canal. It grants Panama sovereignty over the Canal Zone while giving the U.S. rights to operate and defend the Canal until December 31, 1999. Key provisions include the gradual transfer of Canal operations to Panama, increased Panamanian participation in management, and U.S. responsibility for Canal defense. The treaty also addresses issues like employment, environmental protection, and jurisdictional arrangements during the transition period. Accompanying the treaty text are an annex detailing procedures for transferring activities, an agreed minute clarifying certain points, and reservations and understandings made by the U.S. upon ratification.