Trump unveils plan to revive U.S. shipbuilding industry

U.S. President Donald Trump enacted an executive order aimed at revitalizing the United States maritime and shipbuilding industries, with a focus on both commercial and military sectors. Titled “Restoring America’s Maritime Dominance”, the order outlines a comprehensive Maritime Action Plan designed to strengthen the nation’s maritime capabilities.

A key component of this strategy is the creation of a Maritime Security Trust Fund (MSTF), which will serve as the financial foundation for the initiative. In addition to this fund, the executive order includes a financial incentives program to attract private investment into domestic shipbuilding, fostering growth and innovation in the sector.

The plan also addresses the growing importance of Arctic maritime security, setting forth measures to protect Arctic waterways in response to increasing international activities in the region.