Key Points
French shipping company CMA CGM to invest massive $20 billion in US infrastructure
Investment expected to create approximately 10,000 new jobs
Trump highlights revival of US shipbuilding capabilities
Announcement made during Oval Office press conference
This massive investment will go toward building out shipping, logistics, infrastructure, and terminal expansion, which will create an "estimated 10,000 new jobs in America," he told the reporters in the Oval Office on Thursday.
"Today we're delighted to be joined by Rudolf Saade, the chairman and CEO of CMA CGM, one of the largest shipping companies in the world, probably number two in the world. Probably going to be number one in the not-too-distant future, knowing him. They employ over 160,000 employees. They have 750 major container vessels worldwide and I'm thrilled to announce that he's going to be investing USD 20 billion into the United States because of the election results, which comes along with a lot of other things, like great protections and other things," Trump said.
He said the US used to build a ship a day, but "we lost our way," and said that soon a massive new program for building very larger ships in the world will be announced.
"It's so important because it's about shipping. You know, we lost our way. Many years we haven't done anything. We used to build a ship a day, and now we essentially don't build ships. We're going to start that, and we're going to be announcing next week or the week after a massive new program for building very larger, larger ships in the world", Trump added.
The US President also expressed intent on the TikTok deal for which he said, "We have a lot of interest in TikTok. China is going to play a role, so hopefully China will approve of the deal."
Trump also signed a proclamation to declare March 2025 as Women's History Month.
