economy
Trump extends limited waiver of shipping law to keep oil flowing in U.S. amid Iran war
The Jones Act waiver extension comes after the Trump administration's latest signs of a deal to reopen the Strait of Hormuz failed to materialize.
TL;DR
- The Trump administration extended the Jones Act waiver for 90 days.
- The waiver is narrowed to apply only to vessels hauling certain energy resources.
- The extension aims to ensure fuel supplies amid the Iran war and before midterm elections.
- The Jones Act requires U.S. vessels for transport between American ports.
- Since the first waiver, 210 voyages carrying gasoline and crude oil have been completed.
- The waiver is intended to protect consumers from price volatility and strengthen supply security.