A bill to establish the National Trade Policy of the United States.

Declares it to be U.S. policy to: (1) reduce trade problems and current account deficits and to achieve an equilibrium in such accounts by 1992; and (2) maintain stable exchange rates in relation to the U.S. dollar through cooperation within the international financial community. Directs the President to enforce all appropriate procedures and treaties to achieve these objectives, including but not limited to: (1) implementing trade policy measures to expand markets for U.S. exports, discipline unfair trade policies of other nations, and require an equitable world trading system; (2) exerting greater efforts to coordinate economic and monetary policy with U.S. trading partners; and (3) recommending to the Congress appropriate changes in fiscal, regulatory, or general economic policy. Requires the Congress, in enacting future legislation, to give priority to the policy objectives of this Act and to presidential recommendations which further such objectives. Declares that the Congress seeks to hold the President and his designated representatives accountable to the people for the enforcement of a trade policy that would eradicate current abuses that undermine U.S. living standards, national security, and future prosperity. Calls on the President to make frequent reports to the Congress on specific steps that are being taken to reduce the trade deficit.