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Trump hails $20 billion investment by shipping firm CMA CGM
- CMA CGM Group will invest $20 billion in the United States to improve shipbuilding infrastructure, creating an estimated 10,000 new jobs.
- The investment will develop ports in locations such as New York and Los Angeles.
- CMA CGM aims to expand its U.S.-flagged fleet from 10 to 30 ships.
- Trump expressed delight over the investment, noting the importance of reviving the U.S. shipbuilding industry.
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President Donald Trump on Tuesday announced a new White House office to "revitalize" the U.S. military and commercial shipbuilding industries, calling for repairing the troubled industry and saying it is vital to national security. He called for more ships to be built "very quickly, as quickly as possible" amid growing strategic competition with China.
Daily Journal+59 Reposted by 59 other sources
US shipbuilders, a shadow of what they were, welcome Trump's support
Shipbuilding has been in steady decline in the US since the end of the Cold War but some in the industry now hope for a revival of the sector, as was promised last week by President Donald Trump.
·Cherokee County, United States
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Total News Sources146
Leaning Left11Leaning Right23Center29Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 17%
C 46%
R 37%
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