To require the adjustment of tariffs on products imported into the United States from the People's Republic of China based on the amount by which tariffs on products exported from the United States to the People's Republic of China exceed tariffs on products of the People's Republic of China imported into the United States.

Directs the Secretary of the Treasury to adjust each calendar quarter the tariffs on all products imported from China based on the amount by which tariffs on products exported from the United States to China exceed tariffs on products imported into the United States from China. Requires such quarterly adjusted tariffs collected on imports from China to equal the amount by which, in the previous quarter, tariffs on U.S. exports paid to China exceeded tariffs on Chinese imports paid to the United States.