Section 27 of the Merchant Marine Act of 1920 states that any boat that comes to Puerto Rico has to be a U.S. Vessel. This policy results in a disturbing increase in prizes of goods people pay for. Additionally, the act compromises Puerto Rico’s chances to compete in the global economy, and blossom through trade with other countries. Ultimately, a 2012 report by two University of Puerto Rico economists revealed that the policy translated into a $537 million hit to the island’s economy in 2010. Overall, Puerto Rico is paying for an unnecessary service that is wrecking their economy. By derogating this act, Puerto Rico will finally have a real opportunity to lower its shipping cost and have a real chance of competing in the world’s economy.
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