President Trump Extends Jones Act Shipping Waiver for 90 Days, Shifts Focus to Energy Transport

August 11th, President Trump will allow foreign vessels to transport oil and other goods within the U.S. under the Jones Act waiver extended for 90 days, but with new restrictions. Due to disruptions in oil flow from the Iran conflict leading to increased fuel costs, Trump continues to maintain the relevant waivers while narrowing the scope. The new waivers will focus on energy transportation, including gasoline, aviation fuel, crude oil, naphtha, liquefied natural gas, soybean oil, and fertilizer. In the future, the Pentagon will need to consult with the U.S. Maritime Administration before deciding on waiver for individual voyages.

The White House stated that the waiver helps ensure continued access to critical resources for the U.S. military and key industries and increases domestic transport of products such as gasoline, diesel, and aviation fuel. However, U.S. shipbuilding companies and some members of Congress believe that the waiver undermines the protection of the domestic shipping industry under the Jones Act. (FXStreet)