President Trump announced on Wednesday (the 9th) that he’s considering possible tariff exemptions for certain U.S. companies that have been hit hard in the market. He expressed the government’s readiness to evaluate these exemptions for select American businesses over time.
In an effort to breathe new life into the U.S. shipbuilding industry, Trump signed two executive orders. These measures are designed to strengthen U.S. shipbuilding, reduce China’s grip on global shipping, and require a review of regulations related to military equipment exports, all with the aim of making it easier for U.S. defense firms to sell abroad.
One of the executive orders focused on the shipbuilding sector directs the U.S. Trade Representative to push forward a plan that would impose docking fees at U.S. ports for ships made in China or flying the Chinese flag. The U.S. also plans to encourage its allies to adopt similar measures. This order further instructs the Department of Homeland Security to collect port maintenance fees and other charges, while ensuring that shipping companies can’t dodge these fees by rerouting goods through Mexican and Canadian ports before bringing them into the U.S. overland.
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On the same day, Trump also signed an executive order aimed at expanding weapon exports. This order will instruct the Department of Defense, the State Department, and other relevant agencies to revise the foreign military sales system. The goal is to ensure that the equipment provided not only creates jobs in the U.S. and generates substantial income for American defense manufacturers but also guarantees the reliable and effective supply of critical military equipment to key allies.
Currently, the U.S. Arms Export Control Act allows Congress to review weapon exports to other countries, with the review process depending on how close a country’s relationship is with the U.S. and the scale of the proposed sales. Trump also signed an order for a thorough review of the Defense…