Protectionism and the Development of the US Maritime Industry

Source: Cato Institute
by Colin Grabow

“The United States is one of the world’s most aggressive practitioners of maritime protectionism. In areas ranging from dredging to the domestic transportation of goods and passengers, protectionist laws severely curtail the ability of Americans to use vessels registered or even built in other countries. These trade restraints impose a heavy burden on the U.S. economy, with estimates of their costs reaching into the tens of billions of dollars. Ironically, the very domestic maritime industry meant to benefit from this protectionism is instead riddled with inefficiencies, high costs, and stagnation. The policy failure is near absolute.” (10/11/21)