Trump Approves Foreign Shipbuilders Investing in US to Build Up to Two Vessels in Home Countries

U.S. President Donald Trump ordered on the 13th (local time) that foreign shipbuilders investing in the United States be permitted to construct up to two vessels in their home countries.

In a memorandum signed that day, President Trump stated that this applies to foreign shipbuilders who simultaneously construct new shipyards in the U.S. or acquire ownership or a controlling stake in existing U.S. shipyards.

Hanwha, which acquired Philly Shipyard in Philadelphia, U.S., is interpreted as meeting the conditions mentioned by President Trump.

President Trump attached a condition that all vessels beyond the initial two must be built in U.S. shipyards.

In an explanatory document regarding the memorandum, the White House explained that the directive instructs to drive more direct investments into the U.S. shipbuilding industrial base, based on the Finland model first successfully applied by the Department of War in the Coast Guard's medium icebreaker program.

It added that while foreign shipbuilders make substantial and sustained investments in U.S. shipyards and train the American workforce to fill the jobs they create, these companies will be temporarily permitted to build up to two ships at their parent shipyards in their home countries.
※ Please note: This article was translated by AI and may contain errors.