Amid a surge in global oil prices… US to waive the Jones Act for 60 days

The United States will temporarily waive the Jones Act for 60 days, which restricts the transport of goods between US ports to US-flagged vessels. The move reflects the recent rise in global oil prices following the fallout from the conflict in the Middle East.

According to overseas media outlets including Bloomberg and CNBC on the 18th (local time), US President Donald Trump approved the temporary Jones Act waiver that day. This will allow foreign-flagged vessels to transport goods to US ports for the next 60 days.

White House press secretary Karoline Leavitt said in a statement that the temporary waiver will allow key resources—including oil, coal, fertilizer and natural gas—to move smoothly to US ports for 60 days. Leavitt said the waiver is intended to ease short-term disruption in the oil market as the US military works to achieve the objectives of Operation “Epic Fury,” adding that the Trump administration remains committed to continuously strengthening critical supply chains.

The Jones Act is a law enacted in 1920 to foster the US shipbuilding industry. The measure effectively loosens a maritime protection mechanism the US has maintained for more than a century. Bloomberg reported that oil prices are a major factor shaping Americans’ perceptions of inflation and their assessment of the economy, and that a spike in oil prices could pose risks for President Trump and the Republican Party ahead of the midterm elections in November.