(Adnkronos) – Donald Trump suspends the Jones Act for 60 days, the law that requires only American ships to transport cargo between ports in the country, in an attempt to stabilize the surge in oil prices caused by the war with Iran. The temporary suspension of the law, enacted in 1920 with the aim of growing the maritime transport sector after World War II and repeatedly criticized as protectionist, “will allow vital resources such as oil, natural gas, fertilizers, and coal to circulate freely between American ports for 60 days,” said White House spokeswoman Karoline Levitt.
The Trump administration “remains committed to continuing to strengthen our crucial supply chains,” the spokeswoman added, explaining that the measure is intended to “mitigate short-term oil market turbulence as U.S. military forces continue to achieve the objectives of Operation Epic Fury.” The suspension of the law could reduce the costs of transporting fuel and agricultural products by ship between American ports, but according to analysts, the move may only have a marginal impact on gasoline prices, the New York Times points out.
