Trump grants 90-day Jones Act waiver extension to curb energy costs

Trump grants 90-day Jones Act waiver extension to curb energy costs

The decision adds three months to a waiver set to expire on May 17, enabling foreign-flagged vessels to move commodities between US ports through mid-August.

US shipbuilders, maritime unions and lawmakers have long argued that the Jones Act is critical to maintaining a domestic shipping industry. (EPA Images pic)
WASHINGTON:
President Donald Trump granted a 90-day extension to a shipping waiver that makes it easier to move oil, fuel and fertilizer around the US, the White House said today, the latest effort to curb rising energy costs linked to the war with Iran.

The decision adds roughly three months to the existing waiver that was set to expire on May 17, enabling foreign-flagged vessels to move commodities between US ports through mid-August.

White House spokeswoman Taylor Rogers confirmed on Friday that Trump had issued the extension.

“This waiver extension provides both certainty and stability for the US and global economies,” Rogers said.

The Jones Act has long been a flashpoint between competing economic and national security priorities.

Supporters, including US shipbuilders, maritime unions and some lawmakers, argue the law is critical to maintaining a domestic shipping industry and merchant marine that can support military logistics and national security.

However, critics — including energy producers, refiners and agricultural groups — say the requirement to use US-built and -crewed vessels sharply raises shipping costs and limits capacity, particularly during disruptions, driving up prices for fuel and other goods.

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