Business · Energy & Commodities · 2 hrs ago

Trump Extends Waiver Allowing Foreign Ships to Carry Cargo Between US Ports

Trump Extends Waiver Allowing Foreign Ships to Carry Cargo Between US Ports

Donald Trump extended the Jones Act waiver for 90 days, allowing foreign-flagged ships to carry oil and other goods between US ports.

The 1920 law normally requires cargo moving between US ports to travel on ships that are built, owned and crewed in the United States.

Foreign ships still need approval for each voyage, and shippers must show that suitable US vessels are unavailable.

The administration says more shipping options could help contain fuel and fertilizer prices as the war with Iran pushes energy costs higher.

US gasoline averaged $3.91 per gallon, up from $2.98 before the war began, while diesel averaged $6.10, compared with $3.76.

Relaxing the law may offer little relief at the pump, and lawmakers have raised concerns about US maritime jobs and national security; the extension keeps the individual-approval process in place.

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White House sourceSource cited by Bloomberg
Trump decided to extend for 90 days the waiver of provisions of the century-old Jones Act, which require cargo transported between U.S. ports to be carried on vessels owned and operated by Americans
via Vedomosti