Trump allows foreign shipbuilders investing in U.S. to build up to two vessels overseas

U.S. President Donald Trump has allowed foreign shipbuilders investing in U.S. shipyards to build up to two ships in their home countries for delivery to the United States.

Under a memorandum signed on Thursday, the measure applies to foreign shipbuilders that simultaneously build new shipyards in the United States or acquire ownership or a majority stake in existing U.S. shipyards. All ships beyond the initial two must be built at U.S. shipyards.

Hanwha Group, which acquired Philly Shipyard — once owned by Norway’s Aker Solutions — in Philadelphia in 2024, appears to meet the criteria outlined by Trump.

“As foreign shipbuilders make substantial and durable investments into America’s shipyards and train an all-American workforce for the jobs they create, they will be temporarily permitted to build up to two ships in their parent shipyards that will be delivered to bridge gaps on a quick turnaround, while additional ships will be built in revitalized American shipyards,” the White House wrote in a fact sheet.

“The Memorandum directs the Department of War to pursue more direct investments in the American shipbuilding industrial base based off of the successful ‘Finland model,’ which was first employed with the Coast Guard’s medium icebreaker program,” it added.

BY KIM JI-HYE [shin.woojin@joongang.co.kr]