1. Short title This Act may be cited as the Anti-Trafficking Trade Act of 2018 . 2. Suspension of eligibility for countries that fail to meet minimum standards for the elimination of human trafficking Section 502(b) of the Trade Act of 1974 ( 19 U.S.C. 2462(b) ) is amended by adding at the end the following: (3) Countries that fail to meet minimum standards for the elimination of human trafficking (A) Tier 3 countries (i) Suspension of designation Not later than 90 days after the submission to Congress of an annual report on trafficking in persons, the President shall, for each country listed as a tier 3 country in that report that is designated as a beneficiary developing country for purposes of this title, suspend that designation for one year. (ii) Prohibition on designation During the 1-year period beginning on the date that is 90 days after the submission to Congress of an annual report on trafficking in persons, the President may not designate a country listed as a tier 3 country in that report as a beneficiary developing country for purposes of this title. (B) Tier 2 watch list countries Not later than 90 days after the submission to Congress of an annual report on trafficking in persons, the President shall, for each country listed as a tier 2 watch list country in that report, notify the government of that country that a downgrade to the classification of the country to classification as a tier 3 country in the next annual report on trafficking in persons will result in the suspension of the designation of the country as a beneficiary developing country or the ineligibility of the country for designation as a beneficiary developing country, as applicable. (C) Waiver (i) In general The President may waive a requirement of subparagraph (A) with respect to a country if, not later than 90 days after the submission to Congress of the annual report on trafficking in persons that lists the country as a tier 3 country, the President submits to the appropriate congressional committees a letter stating that the