This bill protects American property owners whose assets have been seized by foreign governments, particularly focusing on ports and harbors in countries with U.S. free trade agreements. The legislation requires the Department of Homeland Security to identify "prohibited property"—ports and port infrastructure that a foreign government has nationalized or expropriated from U.S. citizens or U.S.-owned companies since January 2024—and create a list within 60 days. Once identified, vessels that have been loaded at or previously held at these prohibited ports would be banned from importing goods into the United States, docking passenger ships, disembarking passengers, or receiving maintenance services in U.S. ports. Additionally, the bill expands trade law to treat foreign expropriation of American assets as an unfair trade practice, giving the U.S. government new tools to challenge such actions through trade negotiations or sanctions. The legislation targets situations in Western Hemisphere countries while providing no explicit funding mechanism but relies on existing agency resources and trade enforcement authority.
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