TeachMeFinance.com - explain Jones Act
Jones Act The term 'Jones Act ' as it applies to the area of agriculture can be defined as ' The common reference for Section 27 of the Merchant Marine Act of 1920, which requires that all water transportation of goods between U.S. ports be on U.S.- built, owned, crewed, and operated ships. The purpose of the law is to support the U.S. merchant marine industry, but agricultural interests generally oppose it because, they contend, it raises the cost of shipping their goods, making them less competitive with foreign sources'.
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