Trump Administration Releases Maritime Action Plan To Rebuild U.S Shipbuilding Sector

The Trump administration on Friday released a Maritime Action Plan aimed at rebuilding the United States shipbuilding industry and strengthening the maritime sector.

The plan sets out a strategy to revive domestic ship construction, which has declined significantly since the Second World War and now lags behind China and other countries.

The document, which runs to more than 30 pages, outlines measures to expand US-built and US-flagged commercial vessels, reform maritime workforce training, reduce regulatory burdens and create new investment-focused maritime zones.

Part of the funding is expected to come from port fees on cargo delivered to the United States on ships built in China. These levies, which had been agreed between the US and China, have been paused for one year.

According to the administration, the plan proposes the creation of “maritime prosperity zones” to encourage private sector investment.

It also calls for changes to education and workforce development programmes to strengthen skills across the maritime industry.

A key feature of the proposal is the establishment of a Maritime Security Trust Fund. This would create a dedicated funding stream to support maritime security and infrastructure projects, including shipyard modernisation.

Shipyard owners, investors and bipartisan supporters of the Shipbuilding and Harbor Infrastructure for Prosperity and Security (SHIPS) for America Act welcomed the release of the plan, although it was issued later than some had anticipated.

US Senator Todd Young, who reintroduced the SHIPS for America Act last year alongside Democratic Senator Mark Kelly and other lawmakers, stated that there was significant overlap between the administration’s plan and the proposed legislation.

Young indicated that the SHIPS Act would establish a Maritime Security Trust to reinvest port fee revenues into maritime security and infrastructure projects, including shipyard revitalisation.

The SHIPS Act has support from both Republican and Democratic lawmakers in Washington, but it has not progressed rapidly through Congress.

Reference: Reuters

Source: Maritime Shipping News