
Spotlight: Why The Jones Act Is Hurting America And Must Go To Davy Jones' Locker
Steve Forbes: What's Ahead
00:00
The Jones Act Hurts Our National Security
The Jones Act enacted back in 1920 is a terrible law. Its ostensible purpose was to protect and promote the US shipping industry. It mandates that cargo transported between two American ports must be carried on ships that are American-made, American-owned, and American-staffed. The Act has eviscerated our maritime industry. Constructing tankers and container ships in the US now costs almost five times as much as it does for similar vessels in Japan, Norway, and North Korea.
Transcript
Play full episode