White House Extends Waiver to Ease Gas Price Pain
The White House is expected to extend a waiver of the Jones Act in the coming days as part of President Donald Trump's efforts to hold down gasoline prices. The waiver, which has already been used nearly 200 times over four and a half months through the end of July, aims to lower gas prices by increasing shipping flexibility and reducing transport bottlenecks.
The current waiver is set to expire on August 16 and has become the longest suspension of the Jones Act rules in the program's history. The exemption allows 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.
Trump is running out of easy options to lower gasoline prices, which are currently averaging over $4 a gallon in the U.S. ahead of the midterm elections in November. The administration has already leaned on measures including increased oil supply efforts and regulatory flexibility, while Trump has escalated rhetorical pressure on Exxon Mobil and Chevron by saying they should return money to consumers at the pump.