President Trump is drafting an executive order to revive U.S. shipbuilding and weaken China’s influence in the maritime industry. The plan includes funding via fees from imports on Chinese ships, a Maritime Security Trust Fund, and various incentives such as tax credits. It responds to bipartisan concerns regarding China’s growing dominance and outlines measures to support U.S. naval readiness and control over strategic ports.

United States President Donald Trump is preparing an executive order focused on revitalizing domestic shipbuilding and mitigating China’s influence on the expansive $150 billion global ocean shipping industry. This strategy seeks to address and curb China’s naval power, as outlined in an 18-point draft plan. Key funding would derive from fees imposed on imports transported by Chinese vessels, meanwhile introducing a Maritime Security Trust Fund specifically for this initiative.

The draft also proposes incentives for shipbuilding, including tax credits, grants, and loans to stimulate the industry. According to the fact sheet, “The White House is standing up an office at the National Security Council to lead a whole-of-government effort to strengthen the maritime industrial base.” This announcement follows Trump’s comments during a recent address to Congress, recognizing bipartisan concerns regarding China’s escalating dominance at sea and the declining readiness of U.S. naval forces.

This executive order reflects prior legislative efforts, gathering support from both Republicans and Democrats. Trump’s initiative emerges shortly after the Biden administration concluded a thorough investigation revealing that China employs unfair trade practices to establish its domination in the maritime sector. Michael Wessel, president of the Wessel Group, endorsed Trump’s initiative as a positive advancement for the industry, stating, “We can still be the industrial leaders of the world – but only if we act.”

Additionally, Mike Waltz, serving as Trump’s national security adviser, previously introduced bipartisan legislation alongside Democratic Senator Mark Kelly aimed at revitalizing U.S. commercial and military shipbuilding capacities. The U.S. Trade Representative’s office recently proposed significant charges on Chinese-built vessels entering American ports, a response to the ongoing investigation of China’s maritime influence.

Furthermore, in what was presented as an unrelated development, Trump announced a deal involving U.S. firm BlackRock acquiring a substantial portion of the $22.8 billion ports business from Hong Kong conglomerate CK Hutchison, which is integral to U.S. control over strategic Panama Canal ports. In his address, Trump proclaimed, “My administration will be reclaiming the Panama Canal, and we’ve already started doing it.” Other proposed measures in the draft document include a review of government procurement processes under Elon Musk’s Department of Government Efficiency and strategies concerning nuclear shipyard workers’ wages and Arctic security.

President Trump’s planned executive order signals an intense focus on enhancing U.S. shipbuilding capabilities and curtailing China’s maritime dominance. The initiative is noteworthy for its bipartisan support and aims to both fund government measures and stimulate private investment in the industry. As concerns regarding national security and trade practices persist, the proposed allocations and strategies reflect a comprehensive approach to fortify America’s position in maritime affairs.

Original Source: indianexpress.com

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