National security waiver

Except as provided by section 112(d), the President may waive, for successive periods of not more than 90 days each, the application of sanctions, prohibitions, restrictions, duties, and penalties under this Act with respect to a person if, for each such period, the President— (1) determines that such a waiver— (A) is in the national security interests of the United States; and (B) supports the enduring security of Taiwan and a return to the disposition of forces that prevailed before the act that led to the applicable covered determination; and (2) submits to the appropriate congressional committees a notification of the waiver and the reasons for the waiver.