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This bill amends the Defense Production Act of 1950 to establish a framework prohibiting and requiring notification of certain U.S. investments in China related to national security technologies. The Secretary of Commerce would be authorized to prohibit U.S. persons from engaging in covered national security transactions involving prohibited technologies in China, with limited waivers available for activities deemed in the national interest. The bill also requires U.S. persons to notify the Secretary within 30 days of completing transactions involving prohibited or notifiable technologies, with civil penalties up to $250,000 or twice the transaction value for violations.
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