No, the Republic of Panama is not a U.S. territory. Panama is an independent country located in Central America. It gained its independence from Colombia on November 3, 1903, with the support of the United States. The U.S. played a significant role in the construction of the Panama Canal, which was completed in 1914. However, the canal and the surrounding Canal Zone were under U.S. control until December 31, 1999, when full control was handed over to Panama as per the Torrijos-Carter Treaties signed in 1977.
Today, Panama is a sovereign nation with its own government, constitution, and international relations. It is known for its strategic location, the Panama Canal, and its vibrant culture and economy.