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Trump exempts the execution of the Jones Act to curb high oil prices
According to foreign media reports, the Trump administration has temporarily waived a century-old shipping mandate known as the Jones Act to reduce transportation costs for oil, natural gas, and other commodities within the United States. This is the latest measure he has taken to address the rise in energy prices triggered by the war with Iran. On Wednesday, Trump authorized foreign-flagged vessels to transport a range of goods between U.S. ports for the next 60 days.
It is understood that this authorization waives certain transportation requirements, allowing foreign ships to temporarily transport various products. According to White House officials, these products include coal, crude oil, refined oil, natural gas, natural gas liquids, fertilizers, any products primarily made from refined oil, and other energy derivatives.
However, some analysts believe that given the scale of the supply chain shocks, this waiver is expected to have only a limited impact.
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