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The promises to invest in the US have rolled in, often to please President Trump. In March, CMA CGM, a French shipping giant, pledged $20 billion – an improbably large sum for America’s maritime industries.
But only a fraction of the $20 billion has materialized.
- In the White House, CMA CGM's CEO said the company would announce a ship purchase within weeks, but zero American-made vessels have been ordered (too expensive).
- The company said it was going to add 20 vessels to its American-flagged fleet; It has added just one (again, too expensive).
- And CMA CGM actually **reduced** its stake in US ports in a recent deal. (it said the deal would lead to more investment but did not identify any in the US).