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The term “foreign opioid trafficker”—(A) means any foreign person
(B) includes—(i) any entity of the People’s Republic of China that the President determines—(I) produces, manufactures, distributes, sells, or knowingly finances or transports any goods described in clause (i) or (ii) of paragraph (8)(A); and(II) fails to take credible steps, including through implementation of appropriate know-your-customer procedures or through cooperation with United States counternarcotics efforts, to detect or prevent opioid trafficking; and(ii) any senior official of the Government of the People’s Republic of China or other Chinese political official that—(I) has significant regulatory or law enforcement responsibilities with respect to the activities of an entity described in clause (i); and(II) aids and abets, including through intentional inaction, opioid trafficking.
(d) Periodic evaluation
(1) In general
If the authority granted to the President under this section is exercised with respect to a covered national emergency, the President shall transmit to the appropriate congressional committees, not less frequently than annually, a periodic evaluation in writing that—(A) assesses the effectiveness of the exercise of such authority in resolving the covered national emergency;(B) considers the views of public- and private-sector stakeholders; and(C) discusses any potential changes to the exercise of the authority for the purpose of more effectively resolving the covered national emergency.(2) Definitions
In this subsection—(A) the term “appropriate congressional committees” means—(i) the Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on Oversight and Government Reform of the House of Representatives; and(ii) the Committee on Homeland Security and Governmental Affairs, the Committee on Foreign Relations, and the Committee on Banking, Housing, and Urban Affairs of the Senate; and(B) the term “covered national emergency” means a national emergency that—(i) the President has declared, within the preceding 5-year period, with respect to any national emergency regarding international drug trafficking; and(ii) has not terminated.
(e) Appropriate congressional committees defined
In this section, the term “appropriate congressional committees” has the meaning given that term in section 203(d)(2).
(b) In issuing regulations under subsection (a) pursuant to a covered national emergency (as defined in section 203), the President shall—(1) consider the costs and benefits of available statutory and regulatory alternatives;(2) evaluate the costs and benefits for the purpose of expeditiously resolving the applicable national emergency;(3) establish criteria for the eventual termination of the applicable national emergency; and(4) include in the basis and purpose incorporated in the regulations—(A) an explanation of how the regulations will resolve the applicable national emergency; and(B) a discussion of the costs and benefits.