East-West Trade Relations Act

East-West Trade Relations Act - States that the purposes of the Act are to promote constructive relations with countries having nonmarket economics, to contribute to international stability, to promote international trade, to provide a framework helpful to private United States firms conducting business relations with such countries, and to promote the expansion of United States exports.

Authorizes the President to enter into commercial agreements with any country whenever he determines that such agreements will promote the purposes of this Act and are in the national interest. Provides that such commercial agreements may include extension of most-favored-nation treatment with respect to duties on imports, arrangements for protection of industrial rights and processes, arrangements for settlement of commercial differences and disputes, and arrangements for establishment or expansion of trade and tourist promotion offices. Provides that such commercial arrangements shall be subject to suspension or termination upon reasonable notice. Requires the President to report to the Congress on any commercial agreement entered into under this Act.