Jones Act Waiver Extension for Oil Shipping
💰 Economy · First Term (2017–2021) · 🤖 AI-categorized
Trump suspended the Jones Act, a 1920 maritime law requiring goods between U.S. ports be carried on American-flagged vessels, to reduce oil shipping costs during the Iran conflict. The 60-day waiver, issued March 18, made it easier to transport oil domestically and Trump sought to extend it. This lowered shipping costs for consumers but reduced demand for American shipping vessels.
SOURCE /
https://www.whitehouse.gov