What the Baltimore Bridge Collapse Means for the US Economy
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The collapse of the Francis Scott Key Bridge in Baltimore on Tuesday is a reminder that the economy remains vulnerable to sudden supply-chain shocks. While the disaster is unlikely to have a tangible effect on headline GDP growth or inflation, it could affect trade, drive up shipping and trucking costs, and affect employment in Baltimore. The port of Baltimore contributes economic activity worth $15 million a day, and a partial closure of the port could lead to direct and indirect temporary layoffs. The port is the busiest for 'roll-on/roll-off' cargo, and if it stays shut, companies face higher costs by having to reroute goods. Protection and indemnity insurance premiums are also likely to rise. The bridge's collapse is unlikely to cause similar disruption to past supply-chain crises such as the Ever Given blocking the Suez Canal in 2021. However, it highlights the need to build resilient supply chains.

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https://www.businessinsider.com/baltimore-bridge-collapse-francis-scott-key-economy-growth-supply-chains-2024-3