The Trump administration is expected to extend its temporary Jones Act waiver beyond its August 16 expiration, continuing the longest suspension of the century-old shipping law on record. The waiver, first issued in March, allows foreign vessels to transport fuel between U.S. ports to ease supply bottlenecks as the White House seeks to reduce gasoline prices while publicly increasing pressure on Exxon Mobil ($XOM) and Chevron ($CVX) over fuel costs.
- The Jones Act generally requires cargo moved between U.S. ports to travel on U.S.-built, U.S.-owned and U.S.-crewed vessels.
- The current waiver expires August 16 and has been used nearly 200 times through the end of July, according to U.S. government data.
- Administration officials are discussing whether to narrow the waiver while preserving flexibility for critical fuel shipments.
- Republican leaders, including House Speaker Mike Johnson and Majority Leader Steve Scalise, have urged the White House to limit the exemption, citing national security concerns.
- Maritime industry groups argue the waiver has primarily benefited foreign shipping operators rather than consumers.
Relevant Companies
- Exxon Mobil ($XOM) – Higher shipping flexibility could affect domestic fuel distribution while the company remains under White House scrutiny over gasoline prices.
- Chevron ($CVX) – Another major U.S. fuel supplier publicly criticized by the administration as it considers extending the waiver.
- Kirby ($KEX) – A leading U.S. Jones Act tanker operator that could be affected if the waiver is extended or its scope is modified.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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