Trump government extends Jones Act waiver by 90 days to dampen oil prices
Summary
President Donald Trump has extended a 90-day waiver of the Jones Act, a law requiring goods moved between U.S. ports to use American ships. The extension aims to help lower fuel and oil prices before the November midterm elections, though experts say it may have only a small effect on gas prices.Key Facts
- The Jones Act requires goods transported between U.S. ports to be carried on U.S.-flagged ships.
- The law was passed in 1920 to support the U.S. shipping industry and national security.
- President Trump first suspended the Jones Act rules for 60 days in March to help reduce energy prices.
- The new 90-day waiver extension was announced by the White House before the previous waiver expired.
- Some analysts estimate the waiver can lower East Coast gas prices by about 3 cents but may increase prices in the Gulf Coast.
- Critics say the waiver can hurt American shipbuilders and workers by allowing foreign ships to move goods.
- Supporters argue the Jones Act is important for maintaining U.S. maritime strength and national defense.
- Many voters blame President Trump for rising gas prices, partly due to conflict with Iran.
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