President Trump on Wednesday issued a 60-day waiver to the Jones Act, a longstanding shipping law, to ease economic concerns around his war on Iran.
The 1920 law says the transport of products between U.S. ports must be conducted by American vessels, though it’s been criticized as a costly obstacle to trade. The president’s waiver is intended to increase the number of oil tankers that can move oil between U.S. ports.
“President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury,” White House press secretary Karoline Leavitt said. “This action will allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to U.S. ports for sixty days, and the administration remains committed to continuing to strengthen our critical supply chains.”
Mr. Trump decided to join forces with Israel and launch the operation against Iran on Feb. 28 because he wanted to dismantle Iran’s missile program, stop it from developing a nuclear weapon and end Tehran’s support for terror proxies in the Middle East.
Iran retaliated by striking oil-rich Gulf countries and closing down the Strait of Hormuz, which carries about 20% of the world’s oil supply.
Mr. Trump waived the Jones Act as he struggles to get international help in reopening the strait. Allies are reluctant to get drawn into a protracted fight in the Middle East.
In the meantime, oil prices have risen to around $100 per barrel, pushing up gas prices for American drivers.
The national average price of a gallon of gas reached $3.84 on Wednesday, up from $2.92 a month ago, according to the AAA motor club.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.
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