Trump Grants Jones Act Waiver to Curb High Gas Prices

The Trump administration on March 18 temporarily waived the century-old Jones Act — a shipping mandate — to lower U.S. domestic transportation costs for oil, natural gas and other commodities. The move marks its latest effort to address an energy price surge spurred by the Iran conflict. Foreign-flagged vessels will be permitted to transport a range of goods between U.S. ports over the next 60 days, per White House officials. Covered products include coal, crude oil, refined petroleum, natural gas, natural gas liquids, fertilizers, other energy derivatives, and items primarily derived from refined petroleum. Some analysts, however, expect the waiver to have only limited impact given the scale of supply chain disruptions. (FX678)