Jones Act

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University of Nairobi *

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220

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Economics

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Nov 24, 2024

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1 Jones Act in Puerto Rico Name: Institution: Course: Instructor: Date:

2 Jones Act in Puerto Rico Introduction The Jones Act mandates that all cargo vessels operating within U.S. territorial waters must be built in the country and be owned by either U.S. citizens or permanent residents. Protection is provided for the domestic maritime sector, shipyards, and sailors. The Jones Act was established based on the robust camaraderie between the United States and Puerto Rico. During the Spanish-American War, Spain relinquished control of Puerto Rico to the United States, making it a colony. In response, the United States enacted the Jones Act, which facilitated the development of a prosperous domestic maritime industry. This research aims to examine the historical context and consequences of the Jones Act on the population of Puerto Rico. An examination of publications related to the Jones Act and its impact on Puerto Rico. In 1930, academics initiated an examination of the existing literature on the issues associated with the Jones Act. Scholars initiated an investigation in the 1960s to examine the impact of the Jones Act on shipping expenses for Puerto Rico. This analysis will examine the expenses related to operating ships and the cost of transporting goods. The issue of transporting merchandise to Puerto Rico via maritime means is an additional contributing aspect. Acquire knowledge on the historical background of the shipping sector, the rationale behind the enactment of the Jones Act, and its specific implications for the residents of Puerto Rico. The Jones Act has been in force since 1920.

3 Congress has consistently modified the Jones Act since 1920. How may the Jones Act be fortified? Imposing a ban on the sale of ships to foreign purchasers is a strategy to ensure fair competition. An illustration of this is the Coast Guard authorization bill, which establishes a precedent by granting exemptions to certain boats from the constraints imposed by the Act. This chapter will comprehensively cover all of these and additional topics. In accordance with the Jones Act The Jones Act regulates the operation of all vessels involved in commercial activities. There is significant concern regarding ocean-going vessels and offshore supply ships. Marine fleets dedicated to dredging operations in the Great Lakes and inland waterways The Sealift Act also addresses the availability of skilled maritime professionals. The Jones Act is being repealed after a century. The Jones Act has been a detrimental factor to the American economy for almost a century, despite the presence of compelling evidence supporting its repeal. The reason for this is probably related to political factors and divergent motivations between proponents of reform and defenders of the current system. In order to elucidate the importance of the Jones Act, we will provide a comprehensive analysis of it in this discussion. In conclusion The Jones Act, formally referred to as the Merchant Marine Act of 1920, has had a negative impact on Puerto Rico's economy for almost a hundred years. Consignors in Puerto Rico have limited delivery alternatives. Retail prices have been influenced. Despite numerous studies aiming to elucidate this enigma, there has been a scarcity of publicly

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4 accessible data to substantiate their findings. The price hikes were seen universally throughout Puerto Rico, affecting importers, merchants, manufacturers, and consumers alike. Within this section, we present a concise summary of the key aspects and propose a recommendation for further investigation...

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