(a)
Authorization— The President, acting in coordination with the Secretary of State, is authorized to initiate and conduct negotiations with appropriate counterparts of the Government of the Republic of Panama to reacquire the Panama Canal.
(b)
Report— Not later than 180 days after the date of enactment of this Act, the President shall submit a report to Congress detailing the progress of the negotiations authorized by subsection (a), potential challenges, and anticipated outcomes.