Trump on Crude Oil: The impact of the ongoing tension between the US and Iran was clearly visible for the past several days. Due to which there was shortage of crude oil in the global market. Even in India, people were seen quite distressed due to shortage of gas. Meanwhile, now a good news has come for the people, due to which oil prices may now decrease.

Trump took a big decision?
In fact, in view of the ongoing situation across the country, US President Donald Trump has considered deciding to extend the relaxation given in the Jones Act to further ease the movement of oil and fuel between domestic ports. Under this temporary exemption, implemented on March 18 for 60 days, foreign-flagged ships are allowed to supply energy to the United States. The ongoing discussion among the administration is trying to implement this exemption afresh. Which relaxes the requirements under the Merchant Marine Act of 1920.

What is Jones Act?
Let us tell you that Jones Act is also recognized as Section 27 of the Merchant Marine Act of 1920. This is a US federal law. This ensures that ships used to transport goods between US domestic ports must be American-built, American-owned and operated by American crews. ‘The Jones Act’ was first enacted after World War 1, through which the national security of America’s shipping industry and coastal trade could be protected. Sailors are also protected through this Act. Due to this act, in national security or emergency situations, the US government can give temporary relaxation in this law, as is being given recently.