Trump issues temporary waiver of Jones Act requirements in bid to fight rising domestic energy prices [View all]
Source: Yahoo! Finance
Wed, March 18, 2026 at 10:37 AM EDT
President Trump issued a temporary waiver for the Jones Act on Wednesday, White House press secretary Karoline Leavitt said in an X post, making the transport of seaborne cargo around the United States cheaper as the administration attempts to combat the domestic effects of quickly surging energy prices.
Futures on West Texas Intermediate crude oil (CL=F), the US benchmark, picked up more than 5% through Monday morning, trading to change hands above $97 per barrel — erasing a decline in prices on Tuesday. Futures on international benchmark Brent crude (BZ=F) gained roughly 7.7% to trade above $108.80/barrel.
Gas prices at the pump, meanwhile, have risen to a national average of $3.842 per gallon, up from $2.923/gallon one month ago, according to AAA data.
The Jones Act, formally the Merchant Marine Act of 1920, requires that ships transporting cargo between US ports be US-built, US-owned, US-flagged and US-crewed — costly requirements that raise the expense of domestic seaborne goods flows. Trump's waiver, granted on Wednesday, allows foreign-flagged vessels to transport cargoes around the United States for 60 days, Leavitt said.
Read more: https://finance.yahoo.com/news/trump-issues-temporary-waiver-of-jones-act-requirements-in-bid-to-fight-rising-domestic-energy-prices-143752583.html
Will doing a "Nixon redux" next on the table?
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