Trump's War With Iran Pushed Him To Waive a Century-Old Shipping Law. Commerce Boomed.

America's interminable war with Iran has killed thousands, disrupted commerce that flows through the Strait of Hormuz, and raised prices on the home front.

But there may be one silver lining. In an attempt to lower gas prices that spiked because of the war, the Trump administration has repeatedly issued waivers of the Jones Act, a century-old law that requires all goods moved between American ports to be carried on American-built, American-crewed ships.

With the law (temporarily) not being enforced, commerce has exploded.

Just look at how much propane has been shipped from the mainland United States to Puerto Rico, says Colin Grabow, a trade policy analyst at the Cato Institute and perhaps the nation's foremost advocate for abolishing the Jones Act.

Since March, when the first waiver was issued, Puerto Rico has imported more than 800,000 barrels of propane from the mainland. That's more than twice the amount of American propane shipped to Puerto Rico in the last 22 years combined. … [Subscribe to continue reading]