Why not look at the if-you-can’t-beat-them-join-them option? The US could follow the model of some European countries in operating both closed and open registries.
Instead of big US operators going to either Panama, Liberia or Marshall Islands give them a Guam, American Samoa or Puerto Rico option. Streamline the registry operations, throw them a bone on labor and say you can have a small % of crews be foreigner.
You may get some ships back and not have to sacrifice safety in process.