Creates new export-control rules for certain high-end chips by defining “advanced integrated circuit” and related terms, requiring exporters to obtain licenses and customer certifications before shipping those chips to specified foreign countries, and giving U.S. customers a right‑of‑first‑refusal. It also directs the Commerce official in charge of export controls to write implementing regulations and to create a process for designating "trusted United States persons" who can be exempted from some restrictions. The measure sets short deadlines for the Department of Commerce to issue rules and standards, increasing compliance and oversight requirements for sellers and chip makers.