1. Short title This Act may be cited as the National Critical Capabilities Defense Act of 2023 . 2. Protection of national critical capabilities The Trade Act of 1974 ( 19 U.S.C. 2101 et seq. ) is amended by adding at the end the following: X Protection of National Critical Capabilities 1001. Definitions In this title: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Finance, the Committee on Banking, Housing, and Urban Affairs, the Select Committee on Intelligence, and the Committee on Foreign Relations of the Senate; and (B) the Committee on Ways and Means, the Committee on Financial Services, the Permanent Select Committee on Intelligence, and the Committee on Foreign Affairs of the House of Representatives. (2) Country of concern The term country of concern means, subject to such regulations as may be prescribed in accordance with section 1008, any country the government of which is engaged in a long-term pattern or serious instances of conduct significantly adverse to the national security of the United States or the security and safety of United States persons, such as the People’s Republic of China, the Russian Federation, Iran, North Korea, Cuba, and the regime of Nicolàs Maduro in Venezuela. (3) Covered activity (A) In general Subject to such regulations as may be prescribed in accordance with section 1008, and except as provided in subparagraph (B), the term covered activity means any activity engaged in by a United States person in a national critical capabilities sector that involves— (i) an acquisition of an equity interest or contingent equity interest, or monetary capital contribution, in a covered foreign entity, directly or indirectly, by contractual commitment or otherwise, with the goal of generating income or gain