On the 18th, U.S. President Trump announced a 60-day suspension of the Jones Act, lifting restrictions on domestic port shipping in an effort to curb rising oil prices caused by the effective closure of the Strait of Hormuz.
Under the Jones Act, passed in 1920, ships transporting goods between U.S. domestic ports must be built in the United States, registered in the United States, fly the U.S. flag, be majority-owned by U.S. citizens, and be operated by U.S. crews.
White House Press Secretary Levitt pointed out in a statement that Trump’s decision to issue a 60-day Jones Act exemption is another measure taken to ease short-term volatility in the oil market as the U.S. military continues military action against Iran.
She said: "This measure will allow vital resources such as oil, natural gas, fertilizers, and coal to flow freely to U.S. ports within the 60-day period."
Due to the continued rise in energy prices caused by war, U.S. media believe Trump is attempting to lower domestic transportation costs, support military logistics, and ensure continuous energy supplies to U.S. military bases by taking this action.
As one of the measures to contain the surge in oil prices, the U.S. announced a week ago that it would release 172 million barrels of oil from its Strategic Petroleum Reserve.