The Trump administration announced a 60-day suspension of the Jones Act, temporarily easing the requirement that goods transported between U.S. domestic ports must be carried by ships built, owned, and operated in the United States; at the same time, the Treasury also eased some sanctions on Venezuela's state-owned oil company PDVSA, allowing it to sell crude oil to U.S. companies and international markets under certain restrictions. The White House stated that the suspension of the Jones Act aims to alleviate supply bottlenecks and lower energy prices. These two measures, introduced together, reflect that the Trump administration is trying to ease energy pressure by increasing supply and improving transportation against the backdrop of rising international oil prices due to the U.S.-Iran war and disrupted transport through the Strait of Hormuz.
The Jones Act has a history of more than a century and has long been regarded as an important institutional arrangement for protecting the U.S. domestic shipping and shipbuilding industries. Therefore, this temporary exemption may cause dissatisfaction among related industries, as these companies have long benefited from the protection provided by the law. However, analysts point out that as long as the exemption remains short-term, the impact on the industry is expected to be limited. In contrast, easing the sanctions on Venezuela's oil are seen as a clear adjustment in U.S. energy policy, indicating that the White House currently prioritizes stabilizing the oil market and lowering prices over maintaining strict restrictions on Venezuela's energy exports.
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Original article: toutiao.com/article/1860060025651273/
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