Trump extends Jones Act waiver for another 90 days

MoneyWatch Trump extends Jones Act waiver for another 90 days .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Megan Cerullo Megan Cerullo Reporter, MoneyWatch Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting. Read Full Bio Megan Cerullo April 24, 2026 / 4:22 PM EDT / CBS News Add CBS News on Google President Trump is extending a waiver of the Jones Act for another 90 days in a bid to lower fuel prices as the war in Iran stretches into its second month, White House press secretary Taylor Rogers said in a statement on X on Friday. The law requires that goods shipped between U.S. ports be carried on vessels that are U.S.-built, -flagged and -crewed. Mr. Trump initially waived the act on March 18 for 60 days to ease energy prices as the war cut off one-fifth of the world's oil supply, causing energy costs to soar. The extension will begin at 12 am ET on May 18, the White House confirmed to CBS News. "New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster," Rogers said on X. "This waiver extension provides both certainty and stability for the U.S. and global economies. The Trump Administration has taken several actions to mitigate short-term disruptions to the energy markets, and this extension will help ensure vital energy products, industrial materials and agricultural necessities are maintained."The White House added that more than 40 tankers have used, or will use, the Jones Act waiver, increasing the availability of transporting goods between U.S. ports by more than 70%. It has enabled more than 9 million barrels of U.S. oil to reach domestic ports, the White House added. Pros and cons of the waiverSome experts support the waiver and extension, des...