After China labeled shipbuilding a strategic industry in 2006, the government funded several new shipyards with subsidies that saved the industry up to $4.5 billion over a six-year period. China quickly doubled its market share from roughly one-quarter of world ship orders to half. Trump last year imposed tariffs on steel after the U.S. share of global production had fallen by nearly two-thirds since 2000, under pressure from heavily subsidized Chinese mills.

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