President Donald Trump is moving to establish a new executive office and regulations to encourage growth in the United States domestic shipbuilding industry as the nation contends with China’s rise.
The United States Office of Shipbuilding will coordinate actions to bolster the nation’s foundering shipbuilding industry as the administration simultaneously issues heavy fees on commercial operators of Chinese-made vessels.
“To boost our defense industrial base, we are also going to resurrect the American shipbuilding industry, including commercial shipbuilding and military shipbuilding,” Trump said during an address to Congress March 4.
He added that there would be tax incentives to boost domestic shipbuilding....
