Designates certain foreign-controlled ports as “prohibited property,” requires the Department of Homeland Security (with the Departments of Treasury and State) to identify and publish a list of those ports within 60 days of enactment, and directs the President to bar vessels associated with designated prohibited property from importing or releasing cargo, docking passenger vessels, disembarking passengers, or receiving maintenance or services in U.S. ports. The ban applies when a covered foreign trade partner takes specified hostile or exclusionary actions on or after January 1, 2024.

Also updates the Trade Act’s definition of "unreasonable or discriminatory" acts, policies, or practices by adding four explicit examples (expropriation/nationalization, arbitrary or capricious treatment, denial of due process, and nationality-based discrimination) to clarify conduct that could trigger trade remedies or retaliatory measures.