US HB2503

Requires the President, through the Secretary of Commerce and in coordination with the Secretary of State, to develop a strategy eliminating foreign adversaries' access to goods and technologies supporting undersea cable construction, maintenance, and operation

Mandates submission of a strategy report to Congress within 180 days of enactment and annually for 3 years thereafter, with reports to be unclassified (with optional classified annex) and publicly available

Directs the President to seek bilateral or multilateral agreements with allies and partners within 1 year to restrict foreign adversary access to identified undersea cable technologies, including penalty provisions for noncompliance

Requires the Secretary of Commerce to evaluate identified items for potential addition to the Commerce Control List and determine appropriate export control levels, with annual notifications to Congress on evaluation results for 3 years

Strategy must identify entities under foreign adversary control involved in undersea cables, describe U.S. leadership efforts at international standards-setting bodies, and assess foreign adversary activities at those bodies