Jones Act waiver

The Jones Act requires U.S.-built ships for domestic water shipments, but President Trump has temporarily waived it for energy and fertilizer to ease supply issues. The article argues the law is anachronistic, increasing costs for consumers while benefiting a small industry.

Iran’s Foreign Minister Abbas Araghchi is traveling to Pakistan to push for renewed U.S.-Iran ceasefire negotiations, which had failed to resume. Pakistan seeks to revive stalled diplomatic efforts amid heightened tensions in the Strait of Hormuz, where Iran has attacked ships and the U.S. has enforced a blockade. Separately, the Trump administration extended the Jones Act waiver to ease energy transport, impacting oil prices.

Wall Street markets showed mixed premarket performance with Nasdaq futures rising 1.3% led by chipmakers, while oil prices fell after President Trump extended a 90-day waiver easing foreign vessel transportation of energy to the U.S. The waiver, aimed at stabilizing energy prices post-Iran war, coincided with ongoing geopolitical tensions as the Strait of Hormuz remains largely closed, and Iran attacked ships in the strait.