President Trump has announced a 60-day waiver on the Jones Act, a US shipping law that has been criticized for keeping energy prices high. The Jones Act was signed into law by then-President Woodrow Wilson in 1920 to bolster the American shipping industry. It restricts foreign-flagged vessels from transporting all types of goods between US ports, including energy and petroleum products. The White House hopes this waiver will help mitigate short-term disruptions to the oil market during the Iran war and allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to US ports. Following joint US-Israeli air strikes on Iran on February 28, Iran has blocked access to the Strait of Hormuz, a vital maritime route that transports 20% of the world's oil supply. National average gasoline prices have risen to $3.84 a gallon, and diesel prices have also risen above $5 a gallon. Critics have argued that the Jones act is overly protectionist and impedes domestic trade.