U.S. President Donald Trump announced on Thursday, March 6, from the White House that French shipping giant CMA CGM will invest $20 billion in maritime transport and logistics in the United States, as reported by La Provence.
« I am pleased to announce that CMA CGM will invest $20 billion in the United States, » Trump stated, in the presence of the group’s CEO, Rodolphe Saadé.
According to Trump, this investment is the result of « the presidential election, » which notably led to « great protections. »
Since his inauguration in January, Trump has started increasing U.S. import taxes, which has raised entry costs for companies not based in the U.S.
« This massive investment will involve building infrastructure and logistics terminals for maritime transport, which will create about 10,000 new jobs in the U.S. [over the next four years], » Trump continued.
The CEO of the world’s third-largest shipping company expressed « great enthusiasm » about the investment, which could increase « in the coming weeks. »
« We would like, Mr. President, to see more ships flying the American flag. We are going to increase the number of ships we operate under the U.S. flag from ten to thirty, » Rodolphe Saadé emphasized. Saadé is also the owner of La Provence and BFM TV.
« We will thus increase the capacity of major container ports on the East and West coasts, develop state-of-the-art warehouses across the country, and establish a major air cargo hub in Chicago, » he detailed.
The CMA CGM Group will also expand its air freight capacity in the United States by creating a new hub in Chicago and deploying five new Boeing 777 freighters, which will be operated by American pilots. « This will strengthen U.S. trade and connectivity, ensuring quick delivery times for goods, » the president of CMA CGM said.
Source: AA
