Trump Seeks Cheaper Gasoline with Extended Jones Act Waiver

The White House is planning to extend a waiver of the Jones Act, a century-old law that requires cargo moving between U.S. ports to be carried on ships built in the U.S., owned by U.S. companies and crewed by American workers.

The waiver aims to lower gasoline prices by increasing shipping flexibility and reducing transport bottlenecks, as President Donald Trump escalates his attacks on Exxon Mobil and Chevron for making 'too much money'. The current waiver is set to expire on August 16 and has already become the longest suspension of the Jones Act rules in the program's history.

Oil industry experts say that even if the waiver is extended, it will have a limited impact on reducing gasoline prices, which are currently averaging over $4 a gallon in the U.S. ahead of the midterm elections in November.