At their first summit meeting at the White House, Trump voiced support for what Seoul has branded the “Make American Shipbuilding Great Again” initiative, or MASGA — a $150 billion plan advanced by South Korea during trade negotiations in July.
The proposal calls for direct U.S. purchases of Korean-built vessels and expanded South Korean investment to rebuild America’s shipyard capacity.
“We’re going to be buying ships from South Korea. We’re also going to have them make ships here with our people, using our people, and we’re going to go back into the shipbuilding business again,” Trump said. “We love their ships.”
While calling the project promising, Trump cautioned that results would take time. “Shipbuilding is a tough one to start,” he said. “You know, it takes a while.”
The plan underscores how far the U.S. has fallen behind in an industry it once dominated.
Economists point to the Merchant Marine Act of 1920, better known as the Jones Act, as a key factor in the sector’s decline, entrenching monopolies and driving up costs. China, by contrast, has rapidly expanded its capacity, surpassing the United States in fleet size last year with 234 vessels to America’s 219, according to defense data.
Some Republican lawmakers have pushed to roll back parts of the Jones Act, and analysts say Trump could seek executive measures to ease restrictions. But the scope of potential changes remains unclear.
On the sidelines of the summit, South Korea’s HD Hyundai moved quickly to position itself as the project’s anchor partner, signing a memorandum of understanding on U.S. maritime investment.
The company said it would help strengthen American shipbuilding, marine logistics and advanced maritime technology as part of the MASGA initiative.
reporter
Kim Dong-young
davekim0807@ajupress.com
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