April 24 (UPI) -- The Trump administration announced Friday that it is extending its waiver of the Jones Act by 90 days to combat high oil prices.
White House Assistant Press Secretary Taylor Rogers posted on social media that President Donald Trump has issued the extension after announcing the initial waiver last month.
"New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster," Rogers wrote. "The waiver extension provides both certainty and stability for the U.S. and global economies."
The Jones Act was passed in 1920 to grow domestic shipping following World War I. It requires that cargo shipments traveling between U.S. ports must be flagged in the United States, be at least 75% owned by U.S. citizens and at least 75% of their crews must be U.S. citizens.
Waiving the Jones Act allows foreign-owned and -operated oil and fuel tankers to travel between U.S. ports, easing the transport of oil.
