To provide for the withdrawal of most favored nation status from Iran, Iraq, Libya, and Syria, and to provide for the restoration of such status with respect to Syria if the President determines that Syria is participating in the Middle East peace process in good faith.

Withdraws nondiscriminatory (most-favored-nation) treatment from the products of Iran, Iraq, Libya, and Syria. Authorizes the President to restore nondiscriminatory treatment of the products of Syria upon certification to the Congress that Syria is participating in the Middle East peace process in good faith.