Protecting and Securing Chemical Facilities from Terrorist Attacks Act of 2018 This bill directs the Department of Homeland Security (DHS) to reauthorize and make changes in its Chemical Facility Anti-Terrorism Standards (CFATS) program. The CFATS program regulates "high-risk" chemical facilities to reduce the risk of terrorist attacks. The program shall evaluate and maintain (currently, limited to establishing) risk-based performance standards designed to address high levels of security risk at certain chemical facilities. The bill prohibits the inclusion of any standard relating to cybersecurity. DHS shall: (1) establish a CFATS Recognition Program to leverage CFATS regulations and industry stewardship programs to further enhance security relating to hazardous chemicals, and (2) commission a third-party study to assess the effectiveness of the program in maintaining security risks and in developing and using appropriate metrics and analysis capabilities to measure risk reduction. The Government Accountability Office shall report on CFATS inspector training with recommendations for improving such training.