PROTECT Act

Preventing Recurring Trade Evasion and Circumvention Act or PROTECT Act - Directs the Secretary of Homeland Security (DHS) to establish within the Office of International Trade of the U.S. Customs and Border Protection (CBP) a Trade Remedy Law Enforcement Division (including a National Targeting and Analysis Group) to prevent and counter evasion of antidumping or countervailing duty orders with respect to covered merchandise entered into the United States.

Directs the Group to establish targeted risk assessment methodologies and standards for: (1) evaluating the risk that cargo destined for the United States may constitute evading covered merchandise, and (2) issuing Trade Alerts to U.S. ports of entry directing further inspection of specific merchandise to ensure compliance with U.S. trade remedy laws. Requires the Group also to use information available from the Automated Targeting System, the Automated Entry System, the International Trade Data System, and the Treasury Enforcement Communications System to administer such methodologies and standards.

Amends the Trade Act of 2002 to repeal the prohibition against use by the Secretary of the Treasury of certain trade data for merchandise entry or commercial enforcement determinations.

Requires the DHS Secretary, acting through the CBP Commissioner, to exercise all authorities to collect information needed to determine whether merchandise is entered into the United States through evasion.

Amends the Tariff Act of 1930 to permit access to proprietary information submitted to the administering authority or the U.S. International Trade Commission (ITC) to a CBP officer or employee who is conducting an investigation regarding negligence or gross negligence with respect to covered merchandise entered into the United States.

Directs the Secretary of the Treasury to negotiate and enter into bilateral agreements with customs authorities of foreign countries to prevent evasion of U.S. and foreign trade remedy laws.

Directs the CBP Commissioner to employ sufficient personnel who have expertise in and responsibility for preventing and investigating the entry of covered merchandise into the United States through evasion.

Requires the weighted average dumping margin or individual countervailing duty rate determined for a new exporter (shipper) or producer of merchandise in a review by the administering authority as to whether antidumping or countervailing duties shall be imposed to be based solely on the bona fide U.S. sales made by the exporter or producer during the period of review.

Applies the amendments made by this Act to goods from Canada and Mexico.