U.S. Secretary of State Marco Rubio on Monday welcomed Panama's decision to let its participation in China's global infrastructure plan expire, calling the move "a great step forward" for its ties with the United States.

Any move by Panama to distance itself from Chinese President Xi Jinping's signature Belt and Road Initiative is a win for Washington, which has argued that Beijing uses the scheme for "debt trap diplomacy" to cement its global influence.

Rubio, his first overseas trip as the top U.S. diplomat under President Donald Trump to Panama, a close U.S. partner in Latin America, and pressured the country over its ties with China.
After talks with Rubio, Panama's President Jose Raul Mulino said his country's broad agreement to contribute to the Chinese initiative will not be renewed, and could be terminated early. He said the deal was set to expire in two to three years, but did not elaborate.