Washington, D.C.: President Donald Trump announced that CMA CGM, a prominent shipping company based in France, will invest $20 billion in the U.S. shipping and logistics industry, resulting in the creation of approximately 10,000 new jobs in the country.
This substantial investment will focus on enhancing shipping, logistics, infrastructure, and terminal expansion, which Trump highlighted during a press briefing in the Oval Office on Thursday.
"We are pleased to have Rudolf Saade, the chairman and CEO of CMA CGM, with us today. This company ranks among the largest shipping firms globally, likely second in size and poised to take the top spot soon. They employ over 160,000 people and operate 750 major container vessels worldwide. I am excited to announce that he will be investing $20 billion in the United States, a decision influenced by the recent election results, along with various other factors, including significant protections," Trump stated.
He remarked on the historical context of U.S. shipbuilding, noting, "We used to construct a ship every day, but we have strayed from that path." He indicated that a major initiative for building larger ships would be unveiled soon.
"This is crucial because it pertains to shipping. We have lost our momentum. For many years, we have not engaged in shipbuilding. We used to produce a ship daily, and now we hardly build any. We are going to change that, and we will be announcing a significant new program for constructing much larger ships in the near future," Trump added.
Additionally, the President expressed interest in the TikTok deal, stating, "We have significant interest in TikTok. China will have a role in this, so we hope they will approve the deal."
Trump also signed a proclamation designating March 2025 as Women's History Month.
