To require that the President negotiate with Japan an agreement whereby Japan reimburses the United States for a portion of the costs the United States incurs in providing a military defense of Japan.

Requires the President to seek negotiations with the Japanese Government to reach an agreement requiring the Japanese Government to pay to the United States an annual security fee equal to three percent of the Japanese annual gross national product less the amount actually spent by the Japanese Government for defense for the preceding year.

Requires the President, within one year after enactment of this Act, to notify the Congress whether such agreement has been reached.

Provides that the Congress should consider legislation imposing import duties on Japanese products to generate revenues equal to such fee if: (1) no such agreement has been reached; or (2) the agreement reached does not satisfy requirements of this Act.