Collapse of a bridge in Baltimore: what consequences for the region’s economy?

Who will pay the bill? On Tuesday, the Francis Scott Key Freeway Bridge in Baltimore collapsed following a collision with a container ship. A power outage is believed to be the cause of the accident which claimed the lives of six workers who were repairing the road. Fortunately, the boat was able to send an SOS, and traffic was interrupted just before the disaster. The port of Baltimore is now closed, and the economic consequences of this accident could be very serious.

More than 30,000 vehicles use the Francis Scott Key Bridge daily. Traffic that will have to be diverted, which will cause significant delays. On the port side, no more ships can leave or enter for the moment. We will therefore also have to divert the goods there. An operation resembling a logistical nightmare. Baltimore is one of the nation’s most important ports. It alone generates 140,000 jobs and no one yet knows when it will be able to reopen. Rebuilding the bridge could take years, and the bill could reach half a billion dollars. But Joe Biden promised to take care of it.

“Move heaven and earth”

“I have asked my team to move heaven and earth to reopen the port and rebuild the bridge as quickly as possible. My intention is that the federal government pays the entire cost of rebuilding this bridge,” he said. declared the tenant of the White House. The government could turn against the owners of the container ship. But with a Singapore-flagged vessel, managed by one company, but chartered by another, finding the right jurisdiction and responsible party could take time. With repercussions on the entire American economy.