This bill proposes to amend section 1151 of title 14, United States Code, to introduce modifications to the existing prohibition on constructing Coast Guard vessels in foreign shipyards. The primary change allows the President to authorize exceptions to this prohibition when it is determined to be in the national security interest of the United States. Such a determination requires notification to Congress, followed by a 30-day waiting period before any contract can be made. For an exception to be authorized, the President must certify that the foreign shipyard is either a NATO member or a party to an active U.S. defense treaty in the Indo-Pacific region. Furthermore, the certification must confirm that the foreign shipyard offers a lower cost and a significantly faster timeline (more than 18 months sooner) for design, construction, and delivery compared to domestic options. The shipyard must also have a demonstrated five-year capacity to deliver similar vessels under these advantageous conditions. A separate provision allows the Secretary to acquire completed vessels from foreign shipyards in NATO or Indo-Pacific treaty countries, provided the foreign government agrees to a warranty.