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Market Chatter: White House to Extend Jones Act Waiver to Lower Gasoline Prices

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The White House plans to extend the Jones Act waiver in the coming days to curb rising gasoline prices by increasing shipping flexibility, Reuters reported Tuesday, citing sources.

The Jones Act requires cargo vessels to be US-built, US-owned, and endorsed by the US Coast Guard. The current exemption, set to expire on Aug. 16, has been used almost 200 times over 4-1/2 months through the end of July, according to government data cited by the news agency.

Sources told Reuters that talks between government officials and maritime industry representatives to limit the scope of the waiver have delayed the extension, which was expected by the end of July.

The White House did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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