Roughly 5% of all global trade flows through the canal’s 50-mile (80-kilometer) stretch each year, with the largest chunk being cargo heading between the East Coast of the United States and Asia.

The new administration sees Chinese-owned infrastructure as leverage over the waterway. Panama and some former U.S. military officials say concerns are overblown.

Reggaeton is an international sensation, and the South American birthplace of the massively popular music genre is worth ...