Trump Waives Jones Act 60 Days to Address Energy Supply Disruptions
Key Takeaways
- Trump issues 60-day Jones Act waiver to ease shipping restrictions.
- Waiver allows foreign-flag vessels to move oil between U.S. ports.
- Officials say the move aims to stabilize energy prices amid the Iran war.
Jones Act Waived
Trump issued a 60-day waiver of the Jones Act.
The waiver aims to ease energy supply disruptions caused by the US-Israeli war on Iran.
The Jones Act was originally passed in 1920 to rebuild the domestic shipping industry.
Limited Price Impact
Analysts caution the waiver will have only a marginal impact on gasoline prices.
Transportation costs are just one component of the pump price.
The waiver will allow access to a larger pool of ships including foreign-flagged vessels.
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