Biden plan to rival China on shipbuilding faces a big economic problem

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Construction of several vessels begins at Yangzi Mitsui Shipbuilding Co., LTD., Taicang Port Economic and Technological Development Zone, in Suzhou, Jiangsu province, China, March 1, 2024. Future Publishing | Future Publishing | Getty Images President Biden wants to bring shipbuilding back to the U.S., but it won't be easy for a domestic manufacturing industry that has been miniscule since the 1980s. The recent announcement by the Biden administration of a new trade investigation into China's dominance of the ship manufacturing sector — linked to its broader industrial policy to rival China and boost the U.S. steel industry — is at...