To Curb Oil Prices, Trump Exempts Jones Act for 60 Days

Washington (ANTARA) - US President Donald Trump has issued a 60-day exemption to the Jones Act to stabilise rising oil prices resulting from the conflict in the Middle East, White House Press Secretary Karoline Leavitt said on Wednesday (18/3). “President Trump’s decision to issue a 60-day exemption to the Jones Act is another step to reduce short-term disruptions to the oil market as the US military continues to achieve the objectives of Operation Epic Fury,” Leavitt said, referring to the US military operation against Iran. “This policy will allow vital resources such as oil, natural gas, fertiliser, and coal to flow freely to US ports for sixty days, and the government remains committed to strengthening critical supply chains,” she said. The Jones Act, or the Merchant Marine Act 1920, is a US federal law regulating maritime trade in US domestic waters. Earlier this month, Leavitt said the US government was considering an exemption to the enforcement of the Act so that foreign ships could transport oil and other goods through domestic ports. The move is expected to curb energy prices amid the joint US-Israel military operation against Iran.