The White House is expected to extend the waiver of the Jones Act in the coming days, using it as a tool to stabilize gasoline prices. This decision comes against the backdrop of the consequences of the war between the US and Israel against Iran, according to information received by Reuters from sources.
The Jones Act, which has been in effect for a century, requires that cargo be transported between US ports on ships built and owned by the US, and operated by American workers. The purpose of this waiver is to increase flexibility in shipping and eliminate bottlenecks in transportation, which should help reduce fuel costs.
The current waiver of the Jones Act rules expires on August 16. This is already the longest suspension of the Jones Act rules since its adoption, and it has been used nearly 200 times since the start of the war with Iran.
This step is being taken as Trump runs out of simple ways to lower oil prices in the US, which currently average $4 per gallon, ahead of the midterm elections in November. Furthermore, this follows comments made by Trump on Monday, in which he stated that oil companies such as Exxon Mobil and Chevron are receiving 'too much money' from the price increases caused by the war with Iran.
President Trump expressed a desire for Congress to impose tariffs against Iran rather than relying solely on sanctions. Stating this in the Oval Office in response to journalists' questions, he emphasized the importance of this step.
He is convinced that imposing tariffs will make the adopted measures significantly more effective, despite the fact that current sanctions hinder direct trade interaction between the two states.
On Wednesday, the Senate took an important step toward approving new sanctions targeting Russia and Iran by voting to continue considering the bill. This vote, which garnered 86 votes in favor and 12 against, allows the legislative process to continue, although final approval has not yet been reached.
The session took place after senators paid tribute to the late Republican Lindsey Graham, who was one of the main proponents of the bill. Trump noted that he would like tariffs to be included as a tribute to the deceased senator, adding: 'This is what Lindsey would have wanted.'
The Senate's summer recess complicates the timeline for approving the bill, and Trump expressed hope that lawmakers would return earlier if necessary for its passage.
The bill, known as the Russia Sanctions Act, was originally introduced in April 2025 to increase pressure on Moscow in connection with the war against Ukraine and the occupation of neighboring territories. Last week, at Trump's request, the Senate added economic sanctions against Iran.
