economy
Trump extends Jones Act waiver to ease fuel prices, but with new limits
President Donald Trump has issued a 90-day extension of the Jones Act waiver, allowing refiners to ship fuels between U.S. ports with foreign-flagged vessels for longer, despite pressure from the domestic maritime industry.
TL;DR
- President Trump extended the Jones Act waiver for 90 days.
- The waiver allows foreign-flagged vessels to transport fuels between U.S. ports.
- The administration claims the waiver helps lower fuel prices and ensures resource access for military and key industries.
- Data indicates 211 vessels have used the waiver, transporting approximately 55 million barrels of fuel.
- The American Petroleum Institute supports the extension.
- Domestic maritime industries and some Republican lawmakers oppose the waiver, stating it hurts U.S. jobs.
- The extension introduces new terms, including consultation requirements and a narrowed scope of eligible commodities.
- Critics argue the waiver has not lowered consumer fuel prices and benefits oil traders.
- Prominent Republican lawmakers had urged Trump to let the waiver expire.