A bill to impose on petroleum imported from Canada into the United States for later exportation a duty equal to the Canadian duty on petroleum imported into the United States for consumption in the United States.

Provides that during any period in which the Canadian Government imposes an exportation tax, duty, or fee on a petroleum product exported from Canada into the United States, there shall be imposed on any such petroleum product imported from Canada into the United States which is to be later exported back to Canada, or to be exported to any other country, a duty (to be determined by the President) equal to such exportation tax, duty, or fee.