; or (2) is in the national interest of the United States, with an explanation of the reasons therefor. (c) Progress report The Chairman of the National Advisory Council on International Monetary and Financial Policies shall include in the annual report required by section 1701 of the International Financial Institutions Act a description of progress made toward advancing the policy described in subsection (a) of this section. (d) Sunset The preceding provisions of this section shall have no force or effect after the earlier of— (1) the date that is 7 years after the date of the enactment of this Act; or (2) the date that the Secretary reports to the committees specified in subsection (b) that terminating the effectiveness of the provisions is important to the national interest of the United States, with a detailed explanation of the reasons therefor.