President Donald Trump has announced that CMA CGM, a leading French-based shipping company, will invest USD 20 billion in America’s shipping and logistics sector. This substantial investment is expected to create approximately 10,000 new jobs in the United States.
Speaking from the Oval Office on Thursday, Trump emphasized that the investment would contribute to expanding shipping, logistics, infrastructure, and terminal facilities.
“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 highlighted the decline of U.S. shipbuilding over the years, stating that the country once built a ship per day but had since “lost its way.” Trump hinted at an upcoming announcement regarding a major program aimed at reviving ship construction.
“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,” he added.
Trump also touched upon the ongoing discussions regarding TikTok’s future in the U.S., stating, “We have a lot of interest in TikTok. China is going to play a role, so hopefully China will approve of the deal.”
Additionally, Trump signed a proclamation declaring March 2025 as Women’s History Month, reaffirming the country’s commitment to recognizing and celebrating the achievements of women throughout history.