President Trump has temporarily waived the Jones Act in an attempt to stabilize oil markets amid the Iran war. “The Jones Act requires that the transport of goods between U.S. ports must be conducted by U.S. vessels,” CNBC noted. “President Trump waives Jones Act for 60 days in bid to free up the flow of oil to US ports,” White House Press Secretary Karoline Leavitt said. President Trump waives Jones Act for 60 days in bid to free up the flow of oil to US portshttps://t.co/dq3u5ljxiW — Karoline Leavitt (@PressSec) March 18, 2026 CNBC explained further: The temporary suspension of the Jones Act “will allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to U.S. ports for sixty days,” White House press secretary Karoline Leavitt said in a statement. The Trump administration “remains committed to continuing to strengthen our critical supply chains,” Leavitt said. The Jones Act, signed into law in 1920 by then-President Woodrow Wilson, requires that the transport of goods between U.S. ports must be conducted by U.S. vessels. The law was intended as an effort to grow the domestic shipping industry after World War I. The statute has been criticized as a form of protectionism, and some economists have recently argued that it impedes domestic trade. “President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury,” Leavitt said. President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury. This action will allow vital resources like oil, natural… https://t.co/q6xu36exzy — Karoline Leavitt (@PressSec) March 18, 2026 Fox Business has more: The war with Iran has effectively closed the Strait of Hormuz, a vital oil chokepoint that sees ships carry about a fifth of the world’s oil out of the Gulf region. Iran’s stranglehold and threats to ships in the narrow passageway has sent oil prices above $100 per barrel. Proponents of the Jones Act claim it beefs up national security, prevents foreign countries from accessing the U.S. and protects the American shipbuilding sector. Critics, however, argue that the 1920s law is outdated and hampers competitiveness in the industry while driving up shipbuilding costs. “We are deeply concerned about this 60-day, broad waiver being abused and unnecessarily displacing American workers and American companies,” the American Maritime Partnership told FOX Business in a statement on Wednesday. “The law sets a high bar: this waiver exists solely to address an immediate threat to military operations, not to displace American workers or reward foreign operators. Every vessel movement under this waiver must be publicly disclosed and justified according to federal law. We will be watching closely — and so will the American public.” “We also reiterate that this waiver will not reduce gas prices,” it said. “The maximum potential impact of domestic shipping on the cost of gasoline nationwide is less than one penny per gallon.” Even with oil prices surging and appeals from Trump and Washington, U.S. allies are declining to take part in military efforts to secure the Strait of Hormuz.