A bill to restrict United States assistance for the Republic of Iraq until that country opens to international inspection sites suspected of being involved in the production of nuclear, chemical and biological weapons and ratifies the Convention on Biological Weapons.

Prohibits U.S. assistance to Iraq unless the President certifies to the Congress that such country has opened suspected chemical weapon sites to international inspection and ratified the Convention on Biological Weapons.

Requires the Secretary of the Treasury to instruct the U.S. executive directors of the International Monetary Fund, the International Bank for Reconstruction and Development, and the International Development Association to vote against multilateral assistance to Iraq.

Requires the President, unless he makes such certification, to direct the Secretary of Transportation to revoke air travel service between the two countries.

Declares that unless the President makes such certification: (1) he shall terminate, withdraw, or suspend any trade agreement that extends nondiscriminatory (most-favored-nation) trade treatment to Iraq; (2) Iraq shall be denied such trade treatment and Iraqi products shall be subject to column two duty rates under the Harmonized Tariff Schedule of the United States; (3) Iraqi products shall not receive trade benefits under the Generalized System of Preferences under the Trade Act of 1974; and (4) Iraqi products that do not receive duty-free treatment shall be subject to an additional 50 percent duty.