(a) In general
Not later than March 1, 2026, the Secretary of Transportation, in consultation with the Secretary of Commerce, the Chair of the Federal Maritime Commission, and the Director of the Office of Management and Budget, shall submit to the appropriate committees of Congress a report including ways to ensure vessels of the United States operating in foreign commerce are privileged in regulation, taxation, fees, insurance, and policy compared to foreign vessels conducting trade with a United States domiciled entity, while remaining consistent with the international obligations of the United States.
(b) Contents
In submitting the report under subsection (a), the Secretary of Transportation shall include options for regulating trade with foreign vessels in order to sustain and grow the Maritime Security Fleet under chapter 531 of title 56, United States Code, the Cable Security Fleet under chapter 532 of such title, the Tanker Security Fleet under chapter 534 of such title, and other vessels of the United States operating in foreign commerce.