US President Donald Trump announced the creation of an office of shipbuilding and new tax incentives aimed at revitalizing the US shipbuilding sector.
The move is part of an effort to reduce China’s dominance in the global maritime industry. The Trump administration is preparing an executive order that includes 18 measures, such as raising fees on Chinese-built ships and cranes entering the US China has been accused by the U.S. of using unfair practices to dominate global shipbuilding and logistics, Reuters reports.
“We are also going to resurrect the American shipbuilding industry, including commercial shipbuilding and military shipbuilding,” Trump said. “I am announcing tonight that we will create a new Office of Shipbuilding in the White House and offer special tax incentives to bring this industry home to America, where it belongs.”
The president said the U.S. once had a great domestic shipbuilding industry, which has largely died down now. That will change, he promised.
