Trump Industrial Policy to Help US Commercial Shipbuilding
Two-way trade between the United States and other countries totaled over $5 trillion last year. Most of that trade moved by sea. But very little of it moved on American-owned shipping, or on vessels built in America. American shipping companies largely confine their operations to routes within the U.S., which are reserved for American-owned and operated vessels under a 1920 law known as the Jones Act. When they do carry cargo to other countries, that typically is accomplished pursuant to cargo preference laws that reserve military and other federally-financed loads […]