Trump extends shipping law waiver for 90 days amid Iran war fuel price rise

US President Donald Trump has extended by 90 days a waiver of the Jones Act, a shipping law that has been in place for over a century. The administration announced this extension on Friday, according to a White House official. Industry sources, as cited by Reuters, have provided this information.

The waiver, which was first issued in March following the commencement of the US war on Iran, aims to alleviate rising fuel prices. These prices have been on the upswing due to the conflict. When the waiver was initially prolonged in August, the administration stated it would evaluate each case individually, a condition that remains applicable to the latest extension.

Under the Jones Act, cargo moving between US ports must be transported on vessels that are constructed in the US, owned by US entities, and staffed by American crew members. The current waiver seeks to mitigate the impact of the war on gasoline, diesel, and fertilizer prices. Since its inception in March, the waiver has facilitated the transfer of an additional 90 million barrels of petroleum, primarily refined products, between US ports, as reported by the White House.