$20B French Investment in US: Where Did the Money Go?

A year after French shipping giant CMA CGM pledged a $20 billion investment in U.S. Maritime infrastructure, logistics, and terminals, the flow of funds has fallen significantly short of expectations, according to sources familiar with the matter.

The initial announcement, made in March 2025, was hailed by President Donald Trump as a major win for American jobs and a revitalization of the nation’s shipping industry. Trump stated at the time that the investment would create approximately 10,000 new jobs in the U.S. And would focus on building out shipping, logistics, infrastructure, and terminal expansion. He also noted that CMA CGM, employing over 160,000 people globally and operating 750 container vessels, was “probably going to be number one in the not-too-distant future.”

Rudolf Saade, chairman and CEO of CMA CGM, made the commitment during a visit to the Oval Office. Trump used the occasion to highlight what he described as a historical decline in American shipbuilding, stating, “We used to build a ship a day, and now we essentially don’t build ships.” He indicated that a new program to address this issue would be announced soon.

However, as of February 11, 2026, only a fraction of the promised $20 billion has materialized, raising questions about the pace and scope of the investment. While CMA CGM has initiated some projects, including upgrades to existing terminals, the large-scale infrastructure developments initially envisioned have yet to break ground. Sources indicate that bureaucratic hurdles and logistical challenges are contributing to the delays.

The investment was particularly significant given the context of a broader effort by the Trump administration to strengthen American manufacturing and reduce reliance on foreign supply chains. The pledge came after a period where the U.S. Had significantly diminished its capacity in shipbuilding and port infrastructure.

The White House has not released detailed breakdowns of the investment’s progress, and CMA CGM has remained largely silent on the specifics of the rollout. A request for comment from CMA CGM regarding the current status of the $20 billion investment went unanswered.

The administration has indicated that further details regarding the shipbuilding program alluded to in March 2025 are expected to be released in the coming months, but no firm date has been set.