Trump to create office of shipbuilding, calls for tax incentives
Published On Mar 5, 2025, 11:50 AM
Former President Trump has announced plans to create a dedicated office for shipbuilding in the White House and proposed new tax incentives to revitalize the U.S. shipbuilding industry. This comes as a response to concerns over China's dominance in the global shipbuilding market. The proposed measures include increasing fees on Chinese-built ships to encourage domestic production and support U.S. employment in the shipbuilding sector.
Stock Forecasts
GD
Positive
Trump's focus on reviving the shipbuilding industry through new initiatives and incentives could lead to increased contracts and expansion for U.S. shipbuilders, potentially benefiting companies like General Dynamics and Huntington Ingalls Industries, which are significant players in the defense and shipbuilding market.
EEM
Negative
As the U.S. government pushes to raise fees on Chinese ships entering U.S. ports, this could impact international shipping companies, potentially causing a negative market reaction for stakeholders involved in China-U.S. trade.
Related News
Trump Takes Aim at Chinese Shipping Amid Widening Trade War
Feb 26, 2025, 5:04 AM
A new proposal would impose steep levies on Chinese-made ships arriving at U.S. ports, threatening to increase costs for imports.
Newman: Trump is bringing the wrong kind of pain
Feb 3, 2025, 5:20 PM
Trump has warned voters that his tariffs will cause pain. It's the wrong cause to go to the mat for.
Rest of World’s Markets Broken By Trump’s America-First Plan
Nov 13, 2024, 1:29 AM
(Bloomberg) -- Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesNo Water by Year-End for This Zimbabwean City of 700,000 PeopleArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictEquities excluding the US are tumbling,