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Trump Said to Issue Executive Order to Revive US Shipbuilding Sector, Undermine CN Dominance
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US President Donald Trump is preparing an executive order that seeks to revitalize the US shipbuilding industry and undermine China's dominance of the global maritime industry, according to The Wall Street Journal. The order includes 18 measures, including imposing fees on Chinese-made ships and cranes entering the US, raising wages for workers at nuclear shipyards, reviewing the government procurement process and creating a new office at the National Security Council to strengthen the US Maritime Administration, etc.. China is currently the world's largest producer of container ships, with orders from Chinese shipbuilders accounting for about 70% of the world's new container ship capacity. MSC, the world's largest container shipping company, said that, if the US implements the above measures, the shipping company will be forced to stop services in some smaller ports in the US. AAStocks Financial News |
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