Former Chairman of the House Transportation and Infrastructure Committee Peter DeFazio joins Hudson Senior Fellow Michael Roberts for a conversation on shipping and international trade.
The supply chain crisis provided a glimpse of America’s vulnerability to shipping bottlenecks as freight rates skyrocketed, key supplies were delayed or simply unavailable, consumer prices surged, and US exports were left behind. The US government could do little about the problem, in part because America has essentially no control over the international maritime logistics system. Fewer than 100 ships out of a global fleet of 50,000 are American, and no American shipping company is in the top 25. While the pandemic triggered the recent supply chain chaos, there is growing concern that China could weaponize its increasing control over supply chains and shipping, with catastrophic consequences for the US and global economy.
Former Chairman of the House Transportation and Infrastructure Committee Peter DeFazio joins Hudson Senior Fellow Michael Roberts for a conversation on shipping and international trade, which will address why America finds itself in such a vulnerable position and what can be done to turn the ship around.