Trump Issues Jones Act Waiver to Curb Soaring Gas Prices

BlockBeats News, March 18th, the Trump administration has temporarily waived the century-old shipping mandate, the Jones Act, to reduce the transportation cost of oil, natural gas, and other commodities within the United States. This is the latest move to address the energy price surge triggered by the Iran war. Authorized foreign-flagged vessels will be able to transport a range of goods between U.S. ports in the next 60 days.

According to White House officials, these products include coal, crude oil, refined products, natural gas, liquefied natural gas, fertilizers, any products primarily derived from refined oil, and other energy derivatives. However, some analysts believe that given the scale of the supply chain disruption, this waiver is expected to have only a limited impact. (Golden Finance)