[ought-six]

No, it means we have the flexibility to address our national interests as we see fit. The US would be the most affected by the treaty, and no doubt we concluded that not being bound by it would be best for our interests. We have taken similar positions on other international accords (such as the ICC).
Other countries have taken similar positions on other issues that they felt best served their interests.

BTW: Are you a big fan of the UN?

[Alberta's Child]

I’m thrilled that the U.S. hasn’t ratified that treaty. The U.S. should support an “open seas” arrangement as a matter of principle — but only as it pertains to U.S. shipping interests.

This idea that the U.S. has a national interest in protecting navigation in international waters for foreign vessels is a lot of nonsense.