Donald Trump moves to waive century-old Jones Act to curb fuel price surge amid Iran war 2026
Donald Trump on Wednesday temporarily waived the century-old Jones Act in a bid to ease soaring oil and gas prices amid the ongoing conflict involving the US, Israel and Iran, Bloomberg reported.
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The emergency measure lifts the requirement that only US-built, owned and crewed vessels can transport goods between American ports, allowing foreign tankers to move fuel more quickly and at lower cost, officials said.
The move comes as crude prices surged past $100 a barrel and global supply chains faced fresh disruption following attacks in the Strait of Hormuz, a key artery for the world’s energy trade.
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