Reuters reports that CMA CGM CEO Rodolphe Saadé pledged a $20 billion investment in the U.S. over the next four years during a meeting with President Trump. The investment will expand the company’s U.S.-flagged fleet, upgrade port facilities, and create a Chicago airfreight hub, generating 10,000 jobs. They write:
U.S. President Donald Trump on Thursday said French-based shipping firm CMA CGM would invest $20 billion in the United States to build out shipping logistics and terminals.The Trump administration wants to revive shipbuilding in the United States and weaken China’s grip on the sector. The president’s team is preparing an executive order that would impose a levy on ships linked to China when they call at U.S. ports, and wants U.S. allies to do the same. […]The company also plans to raise the number of its vessels flying the U.S. flag to 30 from 10 currently, he added. Trump’s administration wants to increase the number of vessels on the U.S. flag registry.
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