Trump administration may suspend Jones Act to help curb oil prices

According to people familiar with the matter, the Trump administration plans a 30-day Jones Act waiver to let foreign tankers supply East Coast refineries amid fuel price pressures tied to the Iran war.

Summary

According to people familiar with the matter, the Trump administration is planning a 30-day waiver of the Jones Act to allow foreign tankers to deliver fuel to refineries on the U.S. East Coast. The reported move is intended to ease oil and gasoline price spikes linked to the Iran war by expanding available shipping capacity for domestic fuel supply.

Terms & Concepts
  • Jones Act: A U.S. shipping law that generally restricts domestic maritime transport to vessels that are U.S.-built, U.S.-owned, and U.S.-crewed.