On April 17, 2025, the U.S. Trade Representative imposed a series of fees on Chinese-owned and -operated vessels, Chinese-built vessels, and foreign-built car carriers starting in October 2025. The USTR also proposed additional duties on Chinese-manufactured ship-to-shore cranes and certain cargo handling equipment. The range of fees, the application of the fees to car carriers not connected with China, and the crane fees are all new and did not appear in the USTR’s February 2025 proposal.

On March 6, 2025, Senate Banking Committee Chairman Senator Tim Scott (R-SC) introduced the FIRM Act, a bill that would prohibit financial regulators from considering reputational risk as a factor in their assessment of financial depository institutions. On April 8, Congressmen Andy Barr (R-KY) and Ritchie Torres (D-NY) introduced a companion bill to the House of Representatives. The bills are a response to bipartisan concern about improper “debanking,” the practice of banks shutting down accounts of or refusing services to high-risk customers. While banks have broad discretion over customer accounts, some policymakers believe that banks have unfairly restricted access to financial services for certain groups and industries out of concern about their associated reputational risk.

On April 9, 2025, President Trump signed an Executive Order entitled “Restoring America’s Maritime Dominance.” The EO directs a range executive actions – mainly executive reports to outline further action and to propose new legislation – all to promote the U.S. merchant marine including U.S. shipbuilding.