Trump Considers Waiving Jones Act to Tackle Surging Oil Prices

FomoAnxiety · 2026-03-12T20:11:45+00:00

The Trump administration is contemplating a temporary waiver of the Jones Act to reduce oil prices by allowing foreign vessels to transport essential goods, aiming to lower shipping costs and improve delivery times.

FomoAnxiety

2026-03-12 20:11:45

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The Trump administration is considering waiving the Jones Act for 30 days in order to bring down oil prices. The century-old maritime law requires ships to be built, owned, and crewed domestically to transport goods between U.S. ports.

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“In the interest of national defense, the White House is considering waiving the Jones Act for a limited period of time to ensure vital energy products and agricultural necessities are flowing freely to U.S. ports,” said White House Press Secretary Karoline Leavitt.

U.S. Weighs Several Options to Lower Oil Prices

The waiver would allow foreign tankers to transport oil, gasoline, diesel, liquefied natural gas and fertilizer, lowering shipping costs and speeding up delivery times.

The U.S. has considered several options to combat higher oil prices in recent days, including intervening in futures markets and restricting U.S. exports. On Wednesday, the administration announced that it would release 172 million barrels of oil from its strategic reserve as part of a broader 400 million release coordinated by the International Energy Agency.

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