To require the President to enter into negotiations to phase out the use of governmental credits for financing the export of defense articles and services.

Directs the President to enter into negotiations to limit the use of private and governmental credit programs to finance the export of defense articles and services. Declares that the U.S. objectives in such negotiations should include reaching international agreements to identify, through the Organization for Economic Cooperation and Development, various forms of such credits used to enhance the export of such items and phase out their use.