This bill authorizes the President to prohibit the entry of a vessel into the United States if the vessel has transited any U.S. port, harbor, or marine terminal that has been nationalized or expropriated (e.g., seized) by a Western Hemisphere country that has a free trade agreement with the United States.
Under the bill, the President may prohibit the entry and operation of a vessel if it has called at any port, harbor, or marine terminal that was owned, held, or controlled by a U.S. entity or individual, but has been nationalized or expropriated by the government of a country that is located in the Western Hemisphere and has a free trade agreement in effect with the United States.
The prohibition ends when the President determines that (1) the applicable country has restored ownership of the property that had been nationalized or expropriated, (2) the applicable country has provided mutually acceptable compensation for the nationalized or expropriated property, (3) the conditions for the prohibition are no longer satisfied, or (4) the dispute has been otherwise resolved to the satisfaction of the President.
