It would kind of fix the entire situation.
Sadly the united nations seems to run the merchant sea laws.
Not really. Interestingly enough, Ron Paul found out that the US constitution allows the Congress to vote a 'letter of marque' to any US ship as being a representative of the US. They can defend themselves with deadly force on the high seas anywhere.
It started with our own revolution. For a while it lapsed until Thomas Jefferson needed to blow up and burn down north africa 200 years ago. Letter of marque is on the books in admiralty law. That's why we haven't been screwed with for this long.
They wouldn't dare screw with Bush. He would use it.