What Happened
US Naval Vessels To Be Built At Foreign Shipyards With US Investment
US President Donald Trump has signed a presidential memorandum allowing the construction of up to two ships at foreign shipyards with US investment. The move aims to address significant long-term issues in naval shipbuilding and repair programs, and to restore the production and competitiveness of the nation’s maritime industrial base. According to the White House, foreign shipbuilding companies will be required to make significant investments in US shipyards and train American workers. This development was first reported by The Asia Business Daily.