What the Jones Act does and how a Trump suspension could affect fuel prices

The Trump administration is considering suspending requirements of the 1920 Jones Act to temper rising gasoline prices following the Iran war. Officials are reportedly considering a 30-day waiver for the law, which mandates that cargo between U.S. ports be shipped on U.S.-built, owned, and crewed vessels. This potential move aims to ensure vital energy and agricultural products flow freely to U.S. ports, according to press secretary Karoline Leavitt. While a White House official stated it would not affect American shipbuilding, it is unclear how much waivers might affect gasoline prices, which have climbed approximately 60 cents per gallon per AAA data since the strikes on Iran began. Colin Grabow of the Cato Institute estimates any relief would be modest, likely offsetting single-digit cents per gallon at the retail level.