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While Reagan did implement "Buy America", he also removed subsidies for American shipbuilding where as other nations did not. Since then America went from one o
by onepointsixC 5y ago
While Reagan did implement "Buy America", he also removed subsidies for American shipbuilding where as other nations did not. Since then America went from one of the largest ship builders to now almost nothing. It's a national security problem. Now the largest shipbuilders are China, Japan, and South Korea whom all pump billions of subsidies into their industries.
This article would have been far more convincing pre-covid when few worried about supply chains. Today? Forget it.
- pg_bot 5y agoThe problem is the Jones act not subsidies. Imagine not being able to drive an imported car in the United States. That's what the Jones act dictates for shipping. Who cares where the ship is manufactured? Almost every ship that is "built" in the United States was designed internationally and is composed of imported parts. It's the buyers of the subsidized product that are the beneficiaries of the subsidy. We should take advantage of other nations' foolish behavior instead of following in their footsteps.