Presidential suspension of tonnage taxes and light money

Section 60304 of title 46, United States Code, is amended to read as follows: 60304. Presidential suspension of tonnage taxes and light money (a) In general Except as provided in subsection (b), if the President is satisfied that the government of a foreign country does not impose discriminating or countervailing duties to the disadvantage of the United States, the President may suspend the imposition of special tonnage taxes and light money under sections 60302 and 60303 of this title on vessels of that country. (b) Exception Subsection (a) shall not apply to any vessel that— (1) is owned or operated by a foreign entity of concern (as that term is defined in section 4 of the SHIPS for America Act of 2025); (2) is a vessel registered under a registry of a foreign country of concern (as that term is defined in section 4 of the SHIPS for America Act of 2025); or (3) was a vessel registered under a registry of a foreign country of concern (as that term is defined in section 4 of the SHIPS for America Act of 2025) at any time during the 3 years preceding the date of the determination of the application of subsection (a)..