Summary

Changes to U.S. port-entry rules and a new presidential authority let the U.S. restrict or allow vessels that touched certain foreign ports in the Western Hemisphere when those ports are in countries that have nationalized or effectively expropriated U.S.-owned facilities. The President can designate affected foreign ports/harbors/marine terminals and bar related vessel access to U.S. ports until ownership or compensation issues are resolved, with exceptions for emergencies, owner-authorized transits, and matters covered by pending free-trade-agreement arbitration.

• Establishes a presidential designation power to identify ports/harbors/marine terminals in Western Hemisphere free-trade-partner countries that have nationalized or effectively expropriated U.S.-owned facilities.
• Amends entry rules under 46 U.S.C. § 70022 to limit U.S. port access for vessels associated with designated foreign ports, with specified exceptions.
• Permits vessels to enter U.S. ports in emergencies or when the vessel's owner authorizes transit to certain U.S. facilities.
• Prohibits designation when the underlying matter is already subject to pending free-trade-agreement arbitration.
• Requires the President to remove a designation once ownership is restored, adequate compensation in convertible foreign exchange is paid, the matter is otherwise resolved to the President's satisfaction, or the designation conditions cease to apply.
• Clarifies coverage for vessels that transited a designated Western Hemisphere port accessible only via land owned/controlled by a U.S. person.
• Short title takes effect upon enactment; substantive effective date for the amendments is not specified in the provided text.
• Creates a diplomatic/economic lever to pressure foreign governments to resolve expropriation disputes involving U.S.-owned maritime assets.