World
Trump Extends Jones Act Waiver for 90 Days with New Limits
The White House has announced a 90-day extension of the Jones Act waiver, allowing foreign ships to transport cargo but imposing new restrictions amid domestic industry concerns.
US President Donald Trump has extended for 90 days a waiver that permits foreign-flagged ships to transport oil and other commodities between US ports. This decision, finalized on Monday, introduces new limitations to the waiver.
The extension comes in response to concerns raised by shipbuilders and their allies in Congress, who argued that the waiver has been detrimental to the domestic maritime industry. The new rules aim to mitigate these concerns while still facilitating energy transport.
The waiver extension has been issued as the ongoing conflict with Iran disrupts global crude flows and contributes to rising fuel costs. It addresses immediate transportation needs while balancing the interests of the domestic shipping sector.