On January 5, 2023, President Biden signed the Protecting American Intellectual Property Act of 2022 (“PAIPA”) into law. PAIPA requires that the President submit an annual report identifying and describing any “significant trade secret theft” by a foreign person or entity against a U.S. person or entity. PAIPA also requires that the President impose sanctions on certain offenders, but allows the President to choose from an enumerated list of specific sanctions. To date, there has been no reported activity or imposition of sanctions under the statute, and it remains to be seen how PAIPA will be enforced and influence existing federal trade secret misappropriation laws