Reported 1 day ago
Former Federal Maritime Commission Chairman Louis Sola highlighted the delicate balancing act faced by the U.S. maritime industry due to competition from China, which dominates shipbuilding. He pointed out that while the U.S. is implementing penalties on Chinese ships to boost domestic shipbuilding, the high costs and economic repercussions on exports, particularly in agriculture, present significant challenges. Despite difficulties, there's optimism about future infrastructure investments in U.S. ports, with Sola calling for more transparency and finalized trade deals to restore confidence in the maritime sector.
Source: YAHOO