Bloomberg: Trump temporarily waives century-old shipping law To ease energy transport

US President Donald Trump on March 18 temporarily waived a century-old shipping law in an effort to reduce the cost of transporting oil, gas, and other commodities across the United States. The move marks his latest attempt to address rising energy prices linked to his ongoing war in Iran.

The waiver applies to foreign-flagged vessels, allowing them to transport a range of commodities between US ports for the next 60 days. The short-term exemption affects the Jones Act, a 1920 law designed to promote US shipbuilding, which ordinarily requires cargo carried between US ports to travel on ships that are US-flagged, -built, and -owned, Bloomberg reports.

“President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury,” White House Press Secretary Karoline Leavitt said in a statement. “The Administration remains committed to continuing to strengthen our critical supply chains.”

According to White House officials who spoke anonymously, the waiver applies to coal, crude oil, refined petroleum products, natural gas, natural gas liquids, fertiliser, and any goods using refined petroleum as a primary feedstock, along with other energy derivatives.

Analysts warn that the measure is unlikely to fully offset the broader disruptions caused by the conflict. The war has prompted the International Energy Agency to describe the situation as “the largest supply disruption in the history of the global oil market.”

By Sabina Mammadli