Ensuring Naval Readiness Act

This bill amends a law to allow limited construction of naval vessels in foreign shipyards under specific conditions. It directly affects the U.S. Navy and shipbuilding contractors by creating an exception to the general ban on foreign shipyard construction. The key provisions require that foreign shipyards must be in a NATO country or a U.S. mutual defense treaty partner in the Indo-Pacific, and the foreign construction must cost less than domestic alternatives. Additionally, the Navy Secretary must certify before construction begins that the foreign shipyard is not owned or operated by a Chinese company or a multinational company domiciled in China. This change aims to balance cost savings with security concerns regarding foreign shipyard ownership.