French Shipping Giant to Invest $20 Billion in US
The commitment follows President Donald Trump’s vow to ‘resurrect’ the U.S. shipbuilding industry.
By Samantha Flom
3/6/2025 Updated: 3/6/2025
French shipping company CMA CGM Group will invest $20 billion in the United States to help shore up the nation’s shipbuilding infrastructure, President Donald Trump announced on March 6.
“This massive investment will go toward building out shipping, logistics infrastructure, and terminals, which will create an estimated 10,000 new jobs in America,” the president said as he prepared to sign executive orders in the Oval Office.
Lamenting the decline of the U.S. shipbuilding industry, Trump said the nation “used to build a ship a day, and now we essentially don’t build ships.”
He added that he will soon be announcing a “massive new program” to build “the largest ships in the world.” The plan, he said, will involve tax incentives similar to his tariff policies.
CMA CGM Group owns American President Lines, its American container shipping company. The global shipping giant operates in 40 states and employs 15,000 Americans.
Funds from the investment will go toward developing ports in New York, Los Angeles, Houston, Miami, and Dutch Harbor, Alaska, and an air cargo hub in Chicago, according to a press release. The company will also open a new logistics research and development center in Boston focused on advanced robotics and automation.
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READ MORE: https://www.theepochtimes.com/us/french-shipping-giant-to-invest-20-billion-in-us-5821196?ea_src=frontpage&ea_cnt=a&ea_med=top-news-2-top-stories-0-title-0
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