The Decline Of U.S.-Flag Merchant Ships

Only 80 merchant ships fly under the American flag in international commerce. Mostly, this is a function of "race to the bottom" regulatory choices.

U.S.-flag merchant ships since 1960:

U.S.-flag merchant ships since 1990:

The leading flags of merchant ships as of 2020 (there have been few major changes since then, although Hong Kong is, of course, a political subdivision of China):