Critical
Michael Bloomberg: America needs to repeal rather than just suspend a rusty old shipping law
The Jones Act of 1920, designed to protect US shipping, is a counterproductive protectionist measure, the author asserts. Its suspension during the Iran war clearly revealed its economic dead-weight. The law inflates consumer prices, burdens US businesses, and has failed to boost domestic shipbuilding or employment. Conversely, a recent waiver significantly increased domestic fuel and fertilizer shipments, proving the tangible benefits of its absence. The author argues this "national sales tax" should be repealed or its requirements permanently relaxed by Congress, benefiting all Americans.
LiveMint · mint · Aug 7, 2026 at 9:30 AM