Antiboycott Act - States that: (1) the Arab League boycott of Israel and the secondary boycott of U.S. firms that have commercial ties with Israel are an impediment to economic development and peace in the Middle East and North Africa; and (2) the President, the Secretary of State, and the Secretary of Commerce should seek an end to the Arab League boycott of Israel.
Directs the Secretary of Commerce to issue regulations prohibiting, with specified exceptions, any U.S. person from taking specified actions that support any boycott imposed by a foreign country against a country that is friendly to the United States and is not itself the object of any form of boycott pursuant to United States law or regulation.
Sets forth criminal and civil penalties for violations of such regulations.