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Trump extends Jones Act tanker waiver for 90 more days
The renewed waiver tightens approvals, requiring case-by-case Pentagon checks and a narrower list of eligible cargoes.
President Donald Trump has extended for a second time the waiver that allows foreign-flagged tankers to transport fuel and other cargo between US ports without triggering the century-old Jones Act, with the renewal finalized Monday, according to a White House official cited by Bloomberg via Insurance Business.
Insurance Business reports the new version adds restrictions compared with the earlier waivers, including a case-by-case review for every voyage and a requirement that the Pentagon consult the US Maritime Administration on whether an American-flagged, -built and -crewed vessel is available before a foreign ship is approved.
The eligible commodities list has also been narrowed, with Insurance Business citing gasoline, jet fuel, crude oil, naphtha, liquefied natural gas, soybean oil and fertilizers, down from the broader exemption signed in mid-March.
For marine insurance, Insurance Business says tighter eligibility and slower approvals can affect underwriting exposure as cargo flows shift, noting that a tracker by the Cato Institute found more gasoline and jet fuel moved by water from the Gulf Coast to the West Coast in the waiver's first 70 days than in the entire 2020 to 2025 period combined. The outlet links the waiver to economic fallout from the Iran conflict and disruption to tanker traffic through the Strait of Hormuz, where war-risk premiums have been moving sharply alongside oil prices, according to Marsh 's global marine chief Marcus Baker.
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