White House set to extend Jones Act waiver as Trump hunts for cheaper gasoline
Reuter reports have suggested that the White House is expected to extend a waiver of the century-old Jones Act in the coming days to try and hold down gasoline prices, as President Donald Trump escalates his attacks on Exxon Mobil and Chevron for making "too much money."
The Jones Act requires cargo moving between US ports to be carried on ships built in the US, owned by US companies and crewed by American seafarers, and the waiver aims to lower gas prices by increasing shipping flexibility and reducing transport bottlenecks.
The oil industry had expected an extension by the end of July. But administration officialshave continued meeting with maritime industry representatives and lawmakers over potential changes to narrow the scope of the waiver while preserving flexibility to move critical fuel supplies,according to three people familiar with the discussions who requested anonymity because they are not authorized to speak publicly.
The current waiver is set to expire on August 16 and has already become the longest suspension of the Jones Act rules in the programme’s history. The exemption has been used nearly 200 times over 4-1/2 monthsthrough the end of July, according to US government data.
Key Republican lawmakers, including House Speaker Mike Johnson and House Majority Leader Steve Scalise, havepressed the administration to limit the exemption, warning that broad use of waivers could weaken the domestic fleet and undermine the Jones Act's national security goals.
A White House official said the administration was continuing to monitor how the waiver was being used and that discussions were ongoing. Any further announcements would come directly from the president or the administration, the official said.
Maritime groups have been escalating their campaign against extending the Jones Act waiver, with the American Maritime Partnership restarting advertising on CNBC and Fox News and AMP and the AmericanWaterways Operators running digital ads.