The president on Tuesday defended his administration's earlier approval of the sale of London-based Peninsular and Oriental Steam Navigation Co. to Dubai Ports World, despite concerns in Congress it could increase the possibility of terrorism at American ports.

The pending sale — expected to be finalized in early March — puts Dubai Ports in charge of major shipping operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia. "If there was any chance that this transaction would jeopardize the security of the United States, it would not go forward," Bush said.

"It sends a terrible signal to friends around the world that it's OK for a company from one country to manage the port, but not a country that plays by the rules and has got a good track record from another part of the world," Bush said.

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Bush sought to quiet a political storm that has united Republican governors and Senate Majority Leader Bill Frist of Tennessee with liberal Democrats, including New York's two Democratic senators, Hillary Rodham Clinton and Charles Schumer. Frist said Tuesday, before Bush's comments, that he would introduce legislation to put the sale on hold if the White House did not delay the takeover. He said the deal raised "serious questions regarding the safety and security of our homeland.

House Speaker Dennis Hastert, R-Ill., asked the president for a moratorium on the sale until it could be studied further. "We must not allow the possibility of compromising our national security due to lack of review or oversight by the federal government," Hastert said.

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Bush said that protesting lawmakers should understand his approval of the deal was final. "They ought to listen to what I have to say about this," the president said. "They'll look at the facts and understand the consequences of what they're going to do. But if they pass a law, I'll deal with it with a veto."