; and (2) engages in— (A) economic or industrial espionage with respect to trade secrets or proprietary information owned by United States persons; or (B) other related illicit activities, including violations of sanctions imposed by the United States. (c) Exceptions (1) Exception for intelligence activities Sanctions under this section shall not apply to any activity subject to the reporting requirements under title V of the National Security Act of 1947 ( 50 U.S.C. 3091 et seq.) or any authorized intelligence activities of the United States. (2) Exception relating to importation of goods (A) In general The authorities and requirements to impose sanctions authorized under this section shall not include the authority or requirement to impose sanctions on the importation of goods. (B) Good defined In this paragraph, the term good means any article, natural or manmade substance, material, supply or manufactured product, including inspection and test equipment, and excluding technical data. (d) Waiver The President may waive the application of sanctions under this section with respect to a foreign person for renewable periods of not more than 90 days each if the President determines and reports to Congress that such a waiver is vital to the national security interests of the United States. (e) Implementation