Trump administration considers temporary suspension of the Jones Act to stabilize oil prices
Summary
- It said the Trump administration is reportedly planning to temporarily suspend the application of the Jones Act to stabilize oil prices.
- It said the review of easing maritime shipping regulations is a response to the recent expansion of upward pressure on oil prices.
- It said that if the Jones Act is temporarily suspended, energy transportation costs could fall for crude oil and energy, potentially delivering a short-term oil-price stabilizing effect.
Forecast Trend Report by Period
The administration of U.S. President Donald Trump is reportedly planning to temporarily suspend the application of the Jones Act to stabilize oil prices.
According to Walter Bloomberg on the 12th (local time), the Trump administration is considering measures to ease maritime shipping regulations as upward pressure on oil prices has recently intensified.
The Jones Act is a law that stipulates that cargo transport between U.S. ports may be carried out only by ships built in the United States and flying the U.S. flag. The law has been cited as a factor that raises maritime shipping costs.
The administration believes that if the regulation is temporarily suspended, crude oil and energy transportation costs could fall, producing a short-term stabilizing effect on oil prices.
JH Kim
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