President Donald Trump granted a 90-day extension to a Jones Act waiver, allowing foreign-flagged vessels to transport oil, fuel, and fertilizer between U.S. ports until mid-August. The White House announced this decision on Friday, citing efforts to curb rising energy costs linked to the war with Iran.
Key Takeaways
President Donald Trump extended a Jones Act waiver for 90 days to help curb rising energy costs linked to the war with Iran. This extension allows foreign-flagged vessels to transport oil, fuel, and fertilizer between U.S. ports until mid-August.
- President Trump extends Jones Act waiver by 90 days
- Waiver aims to ease energy cost pressures tied to Iran conflict
- White House says move provides economic stability
- Critics argue waiver undermines domestic shipping industry
The extension adds roughly three months to the existing waiver set to expire on May 17. According to White House spokeswoman Taylor Rogers, "This waiver extension provides both certainty and stability for the U.S. and global economies."
The Jones Act, passed in 1920, requires that goods transported between U.S. ports be carried on American-built and crewed vessels. Supporters argue it is critical to maintaining a domestic shipping industry and merchant marine that can support military logistics and national security.
Critics, including energy producers and refiners, say the requirement sharply raises shipping costs and limits capacity during disruptions, driving up prices for fuel and other goods. The Center for American Progress estimated in March that waiving the Jones Act would decrease East Coast gas prices by a modest 3 cents but potentially raise costs on the Gulf Coast.
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