Jones Act Waiver: White House Tries to Ease Shipping Costs as Middle East Tensions Rise

President Trump issued a 60-day waiver of the Jones Act to allow foreign-flagged vessels to transport cargo between U.S. ports, aiming to lower shipping costs as Iran-related conflict disrupts the Strait of Hormuz and crude prices rise; officials say the measure could help move oil, natural gas, fertilizer, and coal, but industry groups warn the impact on gasoline prices would be limited. The move accompanies a plan to release 172 million barrels from the Strategic Petroleum Reserve, while markets show mixed reactions and some shipping stocks rise.