This bill establishes in the Executive Office of the President an Office of Critical Technology and Security, which, among other things, shall

• serve as a centralized focal point within the Executive Office of the President for coordinating policy and actions of the federal government to stop the transfer of critical emerging, foundational, and dual-use technologies to countries that pose a national security risk, and to maintain U.S. technological leadership and ensure supply chain integrity and security for such technologies;
• lead messaging and outreach efforts by the government on the national security threat posed by the improper acquisition and transfer of such technologies;
• lead the development of a comprehensive, long-term strategic plan in coordination with U.S. allies and defense partners to protect and enforce intellectual property rights and to develop a strategy to inform the private sector about critical supply chain risks; and
• use measures developed to monitor and track key trends relating to transfer of such technologies, and relating to U.S. government investments in innovation and competitiveness compared to governments of other countries.

The bill establishes the Council on Critical Technologies and Security to advise the President on matters relating to challenges posed by foreign powers with respect to technology acquisition and transfer.