A bill relating to the treatment of environmental protection and natural resource conservation as aspects of open and fair international trade.

Affirms the policy of the United States to assist in preventing the degradation of the world's environment.

Declares that the principal U.S. trade negotiating objectives under the Trade Act of 1974 shall include: (1) the enactment and enforcement of laws which adequately recognize and protect environmental quality; and (2) the development of international rules and dispute settlement procedures against trade distorting practices that arise from inadequate national protection and enforcement of environmental quality.

Prohibits the President from entering into any trade agreement negotiations unless the President first reports to the Congress on the actions that will be taken to promote such U.S. objectives.

Prohibits any trade agreement from taking effect unless the President consults with specified congressional committees regularly regarding the progress being made toward adoption of such objectives.

Requires the President to report periodically to the Congress on those foreign countries and instrumentalities which either refuse to negotiate, or to negotiate in good faith.

Directs the President to establish an Interagency Advisory Committee on International Environmental Protection.