American Fisheries Act of 1998

American Fisheries Act of 1998 - Revokes permanently all licenses, permits, and other fishing privileges that have the effect of allowing specified vessels that "are not vessels of the United States" (Subject Fishing Vessels) to operate in U.S. fisheries, as well as any fishing history of such vessels. Exempts from such revocation, until December 31, 2001, the operation of such vessels in the Bering Sea pollock fishery and the Pacific whiting fishery.

Mandates a fish harvesting moratorium for large fishing vessels in the U.S. exclusive economic zone until approval and implementation of a fishery management plan (developed by either the Secretary of Commerce, a regional fishery management council, or an interstate marine fishery management commission) specifically authorizing large fishing vessels to harvest fish in such zone.

Declares such moratorium inapplicable to any fishing vessel engaged exclusively in a fishery conducted primarily outside the U.S. exclusive economic zone.