Particle.news
Download on the App Store
4 ARTICLES
·
yesterday

Navy Secretary Tours Hanwha Philly Shipyard Ahead of Tariff Pact Backing $350 Billion Investment

The tariff agreement unlocks $150 billion for a ‘Make American Shipbuilding Great Again’ initiative focused on robotics installation, workforce training, supply-chain rebuilding

This photo, taken July 30, 2025, and provided by Hanwha Ocean Co., shows White House budget official Russell Vought (2nd from L), U.S. Secretary of the Navy John Phelan (3rd from L), and Hanwha Group Vice Chairman Kim Dong-kwan (C) posing for a photo during their visit to Hanwha Philly Shipyard in Philadelphia. (PHOTO NOT FOR SALE) (Yonhap)

Overview

  • U.S. Navy Secretary John Phelan and White House budget director Russell Vought toured the Hanwha-operated Philadelphia yard on July 30 ahead of the tariff pact.
  • Seoul agreed to lower reciprocal U.S. tariffs from 25 to 15 percent under a $350 billion investment package that includes a $150 billion MASGA initiative for U.S. shipbuilding.
  • Since Hanwha’s $100 million December acquisition, the yard has added 600 employees and is in ongoing contract talks with the U.S. Navy.
  • First-quarter capital expenditures at the yard outpaced all of 2024, funding welding autocarriages, robotics and facility upgrades to boost automation.
  • Hanwha aims to expand annual output from 1–1.5 vessels to over 10 ships by 2035 while using the yard as a bridgehead for new U.S. shipyards, supply-chain rebuilding and MRO capabilities.