The Donald Trump administration announced an action plan Friday that seeks to rebuild the American shipbuilding industry, as it emphasized a commitment to continue the "historic" cooperation with South Korea and Japan.

The White House released "America's Maritime Action Plan," which comes after Seoul and Washington agreed to cooperate in such an endeavor in line with the Seoul-pledged "Make American Shipbuilding Great Again"(MASGA) project as part of their trade deal last year.

The White House said the U.S. will continue its historic cooperation with allies South Korea and Japan on revitalizing U.S. shipbuilding as it called to reduce reliance on suppliers that cannot be trusted.

The document said Washington has secured at least 150 billion U.S. dollars of dedicated investment in the shipbuilding industry, and that the Department of Commerce was pushing to mobilize the funds for the investment projects.

The mentioned 150 billion dollars worth of investment is assumed to be Seoul's pledge under the MASGA initiative as part of the country's total investment package of 350 billion dollars in return for reduced U.S. tariffs of 15 percent on South Korean imports.

The White House also proposed a "Bridge Strategy," in which initial shipbuilding under a contract would be built in a foreign shipyard, before relocating the construction to the U.S. after direct capital investments are made to enable production at an American shipyard.