The Revival of the American Maritime Industry: Trump’s Executive Order

President Donald Trump has taken a bold step towards revitalizing the American maritime industry by signing an executive order aimed at restoring American maritime dominance and weakening China’s grasp on the global shipping market.

Creating a Maritime Action Plan

The executive order directs the creation of a Maritime Action Plan (MAP) to revitalize U.S. maritime industries. This plan will provide a strategy with specific actions to restore and create sustained resiliency for the American maritime industry.

Government procurement processes and over-regulation have hindered private industry’s ability to build vessels on time and on budget. The current administration believes that this order will reverse that trend and boost the domestic shipbuilding industry.

Investing in the Maritime Industrial Base

The order instructs the Secretary of Defense to assess options, including the Defense Production Act Title III authorities, to invest in and expand the Maritime Industrial Base. This will help better utilize existing authorities to spur public and private investment in the industry.

Additionally, the order directs the United States Trade Representative (USTR) to make recommendations regarding China’s anticompetitive actions within the shipbuilding industry and enforce collection of fees on foreign cargo entering the United States.

Establishing Maritime Security Trust Fund

Furthermore, the order establishes a Maritime Security Trust Fund to provide consistent funding for maritime programs and a shipbuilding financial incentives program to boost private investment in U.S. shipbuilding. It also develops Maritime Prosperity Zones to incentivize investment in waterfront communities.

Resurrecting American Shipbuilding

President Trump aims to resurrect the American shipbuilding industry, which has been weakened by decades of neglect. The data shows a stark contrast between the U.S. and China in terms of shipbuilding capacity, with China leading in most aspects.

During a joint address to Congress, President Trump vowed to prioritize the revitalization of the U.S. shipbuilding industry, both commercial and military. He emphasized the importance of rebuilding the industry for economic and national security.

Support from Shipbuilders Council of America

The Shipbuilders Council of America (SCA) welcomed President Trump’s executive order, stating that it will provide a powerful environment to rebuild the shipbuilding capacity and build the fleet of the future. They believe a strong U.S. shipyard industry is essential for economic, homeland, and national security.

With this executive order, President Trump has shown a deep commitment to reenergizing and investing in the nation’s shipyards. The SCA stands ready to work alongside policymakers and industry partners to restore America’s shipbuilding strength.

Overall, President Trump’s executive order signals a significant shift towards revitalizing the American maritime industry and strengthening its position in the global shipping market.