The recent collapse of the Francis Scott Key Bridge in Baltimore on Tuesday disrupted crucial supply chains and threatened economic stability. This was a pivotal point for trading as it connected the Port of Baltimore to the mainland. With the collapse of the bridge, there was a suspension of vessel traffic, raising concerns about the flow of essential goods. Since the Port of Baltimore is the 17th largest in the nation, its suspension caused a huge disruption in supply chains. It handled 52.3 million tons of foreign cargo which was worth 81 billion dollars in 2023 and created more than 15,000 jobs. Additionally, the coal industry mainly relied on the Port of Baltimore for export. Because of the collapse, they need to reroute shipments and handle other complications. The coal industry is only one of the many that have been affected by the bridge collapse. As the region grapples with the consequences of the bridge collapse, efforts have started towards rebuilding it however, it will require significant time, resources, and coordination.
Link: https://www.washingtonpost.com/business/2024/03/27/baltimore-port-economy-disruption-bridge-collapse/
I wonder about the economic issues this causes the US from a national perspective. I know it will affect the region a ton, but I am sure it will also affect the entire country. I also am curious how this will affect the US trade options. Will other countries view this as a reason to not trade with us?
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