; or (2) any other consideration that, in the determination of the Secretary, unfairly disadvantages Taiwanese nationals with respect to employment at the institution. (b) International financial institution defined In this section, the term international financial institution has the meaning given the term in section 1701(c)(2) of the International Financial Institutions Act. (c) Waiver authority The Secretary of the Treasury may waive subsection (a) for not more than 1 year at a time after reporting to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that providing the waiver— (1) will substantially promote the objective of equitable treatment for Taiwanese nationals at the international financial institutions; or (2) is in the national interest of the United States, with a detailed explanation of the reasons therefor. (d) Progress report The Chairman of the National Advisory Council on International Monetary and Financial Policies shall submit to the committees specified in subsection (c) an annual report, in writing, that describes the progress made toward advancing the policy described in subsection (a), and a summary of employment trends with respect to Taiwanese nationals at the international financial institutions. (e) Sunset The preceding provisions of this section shall have no force or effect beginning with 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 of the Treasury reports to the committees specified in subsection (c) that each international financial institution has adopted the policy described in subsection (a).