FLEETS Now Act

Key Points

• The bill aims to rebuild the American shipbuilding industry, which currently produces less than 1% of the world's commercial ships, while reducing dependence on China, which controls over half of global shipbuilding output.
• It creates a new exchange visitor program for shipbuilding experts including marine engineers, naval architects, and skilled tradespeople. The program would allow American workers to learn from international partners, with a two-year authorization window.
• The bill establishes an Allied Maritime Framework for the U.S. and allied nations to collaborate on ship design, production, and maintenance, including joint workforce development programs, co-development of design principles, and mechanisms to attract foreign investment into U.S. shipyards.
• The State Department would get a renamed and expanded senior position, the Assistant Secretary for Water, Environment, and Space Affairs, who would handle maritime diplomacy, attract international shipbuilding investment, and lead U.S. engagement in the new Maritime Group of Nations.
• The bill directs the U.S. to push the International Maritime Organization to eliminate carbon taxes and financial penalties on shipping fuels, remove net-zero 2050 targets deemed unreasonable, and adopt an 'energy all' approach that does not restrict any type of marine propulsion technology.
• The U.S. International Development Finance Corporation would be authorized to invest in harbors, ports, and related infrastructure overseas, expanding its ability to counter Chinese port investments in developing countries.