Piecemeal and stopgap measures added to existing and increasingly cumbersome and antiquated laws are not working to foster strong US merchant marine foreign trade fleets and domestic fleets which are essential to the international and internal economy.
Trade requires transport and the most efficient form of transport is by water. Indeed, some 94% of all international trade is by water. International export trade was valued by the World Trade Organization for the United States in 2012 at $3,882.7 billion, of which approximately 95% was carried by ships.
International trade is the foundation of our national security. Hence a vital, strong, modern and competitive merchant marine is essential to international trade and, therefore, domestic trade.
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