The Trump administration has released its plan to rebuild U.S. shipbuilding and other maritime businesses, paid for in part by port fees on cargo delivered to the United States on ships made in China – levies the U.S. and China agreed to pause for one year.
The Maritime Action Plan offers a road map for the revival of U.S. shipbuilding, which has shrunk since World War Two and now severely lags China and other nations.
Coming in at more than 30 pages, the plan calls for establishing maritime prosperity zones to bolster investment, reforming workforce training and education, expanding the fleet of U.S.-built and U.S.-flagged commercial ships, establishing a dedicated funding stream through a Maritime Security Trust Fund and reducing regulations.
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