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Benzinga
  • 6 hours ago
Trump granted a 90-day extension to a shipping waiver allowing foreign-flagged vessels to transport oil, fuel, and fertilizer between U.S. ports, extending it from May 17 through mid-August. The move aims to address rising energy costs tied to the Iran war. The waiver relates to the Jones Act, which requires U.S.-built and -crewed ships. Supporters cite national security benefits while critics say it raises shipping costs and limits capacity during disruptions.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Trump granted a 90-day extension to a shipping waiver that allows foreign-flagged vessels to
00:07transport oil, fuel, and fertilizer between U.S. ports, the White House said Friday,
00:12according to Reuters. The waiver was set to expire on May 17th and will now run through
00:17mid-August. The move aims to address rising energy costs tied to the war with Iran.
00:22White House spokeswoman Taylor Rogers said the extension provides certainty and stability for
00:27the U.S. and global economies. The waiver relates to the Jones Act, which requires the use of U.S.-built
00:33and crude ships. Supporters say the law supports national security, while critics say it raises
00:39shipping costs and limits capacity during disruptions. For all things money, visit Benzinga.com.
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