US shipbuilders, a shadow of what they were, welcome Trump’s support

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NEW YORK, March 9 — Shipbuilding has been in steady decline in the US since the end of the Cold War but some in the indu...

US ship production is down 85 per cent from the 1950s, and the number of naval shipyards capable of building the largest vessels has fallen by 80 per cent, according to the McKinsey consultancy.

Paxton said the Trump administration needs a comprehensive strategy for the industry—including ways to reduce administrative and regulatory obstacles—if it is to achieve its shipbuilding goals.

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Category: EconomyBusiness

Markets: MalaysiaChinaJapanSouth KoreaUnited States

Topics: US economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-09 @ 21:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

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Reading Time: 5 minutes read

Sentences: 26 lines

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News ID: 26772935

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