For more than 100 years, a federal law known as the Jones Act of 1920, has restricted water transportation of cargo between domestic ports to ships that are built, owned, crewed and registered in the United States.
Also known as the Merchant Marine act of 1920 this federal statute was intended to support the development and maintenance of a merchant marine in order to support commercial activity and serve as a naval auxiliary during times of national emergency or war (see 46 USC § 50101).
Alas, the Law of Unintended Consequences has replaced the best of intentions with the result of significant costs to the US economy while providing few of the promised benefits.
Concise explanation here:
Posts
No comments:
Post a Comment