The Tracking Receipts to Adversarial Countries for Knowledge of Spending Act, or TRACKS Act, aims to enhance transparency regarding federal funds by requiring the tracking of subawards to certain foreign entities. It amends the Federal Funding Accountability and Transparency Act of 2006 to introduce new reporting requirements for specific financial transactions. Specifically, the bill defines a "covered subaward" as any subaward provided to an entity located in a "foreign country of concern" or to a "foreign entity of concern," as defined by existing law. Recipients of these covered subawards will be mandated to disclose relevant data, mirroring the current disclosure standards for other subawards. Furthermore, the Director is required to issue guidance within 90 days to establish consistent compliance standards for agencies, prime award recipients, and covered subaward recipients, ensuring standardized data disclosure.