; (2) are not likely to be repeated in the future; and (3) have been reversed or otherwise mitigated through positive countermeasures taken by that foreign person or foreign financial institution. (c) Termination of Act (1) Report (A) In general Not later than July 1, 2046, the President, in consultation with the Secretary of State, the Secretary of the Treasury, and the heads of such other Federal agencies as the President considers appropriate, shall submit to Congress a report evaluating the implementation of this Act and sanctions imposed pursuant to this Act. (B) Elements The President shall include in the report submitted under subparagraph (A) an assessment of whether this Act and the sanctions imposed pursuant to this Act should be terminated. (2) Termination This Act and the sanctions imposed pursuant to this Act shall remain in effect unless a termination resolution is enacted under subsection (e) after July 1, 2047. (d) Exception relating to importation of goods (1) In general The authorities and requirements to impose sanctions under sections 6 and 7 shall not include the authority or requirement to impose sanctions on the importation of goods. (2) Good defined In this subsection, the term good means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data. (e) Congressional review (1) Resolutions (A) Disapproval resolution In this section, the term disapproval resolution means only a joint resolution of either House of Congress— (i) the title of which is as follows: A joint resolution disapproving the waiver or termination of sanctions with respect to a foreign person that contravenes the obligations of China with respect to Hong Kong or a foreign financial institution that conducts a significant transaction with that person.