The Trump administration plans to suspend the Jones Act to stabilize oil prices

According to Jinshi reports, sources reveal that as part of measures to curb soaring oil prices, the Trump administration plans to issue a temporary exemption for a century-old maritime law. This law requires that goods transported between U.S. ports must use vessels built in the United States.

Sources say that the 30-day exemption from the Jones Act will allow foreign tankers to help supply fuel from the Gulf Coast and other parts of the U.S. to refineries on the East Coast.

This move comes as Trump is considering various options to curb the significant rise in crude oil and gasoline prices caused by the war with Iran.