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Trump to extend US shipping waiver for oil supplies

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US news site Axios reports that President Donald Trump intends to maintain the waiver of a controversial maritime law.

The report notes that Trump is pushing to keep the Jones Act requirements waived for energy shipments.

Critics say the 1920s law typically inflates domestic shipping costs by mandating that oil supplies moved between US ports be carried on American-flagged vessels, which are in far shorter supply than the global fleet.

To combat the soaring fuel prices triggered by the US-Israel war on Iran, Trump originally issued a 60-day waiver of the law on March 18.

Due to the success of the move, he now wants to keep the waiver in place, according to the report.

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