Trump Waives US Shipping Law For Oil and Gas In Bid to Lower Prices

President Donald Trump temporarily waived a century-old shipping mandate to lower the cost of transporting oil, gas and other commodities around the US, marking his latest bid to combat the rise in energy prices spurred by his war in Iran.

The president on Wednesday authorized foreign-flagged vessels to transport a range of commodities between US ports for the next 60 days. The short-term waiver of the Jones Act — a 1920 law designed to promote US shipbuilding — has been cast by the Trump administration as a way to ease the shipment of energy products vital to national security and prevent shortfalls that could disrupt military operations.