To provide for the imposition of sanctions on persons who export, transfer, or otherwise engage in the trade of certain items in violation of laws and regulations implementing the Military Technology Control Regime.

[AI summary unavailable — showing source text] Directs the President to impose certain sanctions against persons who export, transfer, or otherwise engage in the trade of any Missile Technology Control Regime item in violation of the U.S. export control laws. Declares such sanctions to include the: (1) denial of an export license; (2) prohibiting of all contracting with, or procurement of any products and services from, such violator; and (3) prohibiting of imports from such violator. Requires the President to report to the Congress: (1) within ten days before imposing or waiving any such sanction; and (2) annually about the status of any sanctions or sanction waivers.…