Investing.com -- President Donald J. Trump has revealed that shipping giant CMA CGM is planning a $20 billion investment in the United States. This significant investment is aimed at shipping logistics, infrastructure, and terminals, and is expected to create an estimated 10,000 new jobs in the country.
The Chairman of CMA CGM, Rodolphe Saadé, expressed his enthusiasm about the announcement. He confirmed that the $20 billion investment will be directed towards shipping and logistics, which will lead to the creation of 10,000 new American jobs. In addition, Saadé mentioned that the company is considering expanding its shipbuilding activities of container vessels. Furthermore, CMA CGM is planning to increase the number of US flag vessels from 10 to 30.
President Trump also hinted at further developments in the shipping industry. He plans to announce a new government program for shipbuilding next week. During his address to a joint session of Congress on Tuesday, the president shared his intention to establish a new office of shipbuilding in the White House. He also plans to offer special tax incentives to encourage the growth of the shipping industry in the United States.
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