"The Jones Act requires that goods hauled between US ports be moved on US-flagged vessels. Passed in 1920, this law aims to protect the US shipping sector, but it has also faced criticism over the years for slowing the delivery of goods, including critical aid during times of crisis."
"The Center for American Progress estimated in March that waiving the Jones Act would decrease East Coast gas prices by a modest 3 cents, but potentially raise costs on the Gulf Coast."
"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."
The US government has extended a shipping waiver for 90 days to facilitate the movement of oil, fuel, and fertilizer amid rising energy costs linked to the Iran conflict. This decision aims to mitigate politically sensitive fuel price spikes before the midterm elections. The Jones Act, which mandates goods between US ports be transported on US-flagged vessels, has faced criticism for increasing costs. Analysts suggest the waiver will have minimal impact on consumer fuel prices, potentially benefiting the oil industry while sidelining American shipbuilders.
Read at www.aljazeera.com
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