The Trump administration is drafting an executive order to boost U.S. shipbuilding and reduce China’s maritime dominance, reports Paul Berger of The Wall Street Journal. It includes fees on Chinese ships, higher wages for shipyard workers, and new investments. Berger writes:
The Trump administration is preparing an executive order aimed at reviving U.S. shipbuilding and cutting Chinese dominance of the global maritime industry.
According to a draft summary reviewed by The Wall Street Journal, the order includes 18 measures ranging from raising revenue from fees on Chinese-built ships and cranes entering the U.S., to establishing a new office at the National Security Council to strengthen the domestic maritime sector.
The measures also include raising wages for nuclear-shipyard workers and instructions to Elon Musk’s Department of Government Efficiency to review government procurement processes, including the Navy’s. […]
Toft, speaking Monday at S&P Global’s annual TPM25 shipping conference in Long Beach, Calif., said the fees could raise shipping costs on some routes from Asia to the U.S. by up to $800 per 40-foot container. He said those costs would be passed on to importers and consumers.
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