The Trump Administration Plans to Suspend the Jones Act to Stabilize Oil Prices

BlockBeats News, March 12th, According to sources familiar with the matter, as part of efforts to curb surging oil prices, the Trump administration plans to issue a temporary waiver for a century-old maritime law. The law requires goods transported between U.S. ports to be carried on U.S.-built ships. Sources said that the 30-day waiver of the Jones Act would allow foreign oil tankers to help supply refineries on the East Coast with fuel from the Gulf of Mexico and other U.S. regions. At the time of this action, Trump is considering various measures to curb the sharp rise in oil and gasoline prices resulting from the Iran conflict. (Golden Finance)