Donald Trump, the U.S. president, is currently drafting a draft executive order to resuscitate domestic shipbuilding while reducing China's dominance of the global ocean transportation industry which handles over 80% global trade.

The draft fact sheet, seen by on March 16, includes a 18-point plan which includes funding efforts with fees collected from imported goods arriving on ships made in China. The plan would also create a Maritime Security Trust Fund to serve as a funding source dedicated for the effort and create shipbuilding incentive programs that include grants, tax credits and loans.

The document stated that "The White House has established a new office within the National Security Council in order to coordinate a government-wide effort to enhance the maritime industry base."

(source: Reuters)