Trump waives Jones Act shipping law in an effort to lower oil prices - MarketWatch

President Trump waived the Jones Act, a 1920 maritime law that requires goods shipped between U.S. ports to be carried on American-built and American-operated vessels, as part of an effort to reduce oil prices. The Jones Act has long restricted domestic shipping and increased transportation costs for fuel and other goods by limiting competition. By waiving the requirement, Trump's administration aims to allow cheaper foreign vessels to transport oil domestically, potentially lowering fuel costs for consumers. The move is consistent with Trump's stated focus on reducing inflation and energy prices early in his second term. Shipping industry groups have traditionally opposed such waivers, arguing they threaten domestic maritime jobs and shipbuilding capacity.