; penalties (1) Implementation The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act ( 50 U.S.C. 1702 and 1704) to carry out this section. (2) Penalties A person that violates, attempts to violate, conspires to violate, or causes a violation of subsection (b)(1) or any regulation, license, or order issued to carry out that subsection shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection (a) of that section. (e) Termination of sanctions The President may remove a Chinese person from the list required by subsection (a)(1)(B), and terminate the application of sanctions under subsection (b) with respect to the person, if the President determines and reports to the appropriate congressional committees that the person— (1) has not, during the 2-year period preceding the date of the determination, engaged in any activity described in subsection (a)(1)(A); and (2) has provided assurances that the person will not engage in any such activity in the future. (f) Report required (1) In general With the third consecutive list required by subsection (a)(1)(B) that includes a Chinese person, the President shall submit to the appropriate congressional committees a report that includes a description of— (A) the activity described in subsection (a)(1)(A) in which the person engaged; (B) how the intellectual property involved in the activity was misappropriated or used; (C) how the use of that intellectual property affected the United States person from which the intellectual property was stolen