An Act to amend the International Economic Policy Act of 1972 to change the membership of the Council on International Economic Policy, and for other purposes.

(LATEST SUMMARY)

Provides that the President shall no longer be a member of the Council on International Economic Policy established under the International Economic Policy Act. Includes the Secretary of Transportation as a member of the Council. States that the Chairman of the Council shall be designated by the President from among the members of the Council.

Extends appropriations of $1,400,000 for the Act for fiscal year 1974.

Requires the annual report under the Act to include comparative description and analysis of the following subject matter, with respect to the United States, the European Community, Japan, and whenever applicable, the U.S.S.R.: (1) research and development expenditures, and productivity and technological trends in major industrial and agricultural sectors; (2) investment patterns in new plants and equipment; (3) industrial manpower and training practices; (4) tax incentives and other governmental financial assistance; (5) export promotion practices; (6) share of the export market; (7) environmental practices; (8) antitrust practices; and (9) long-range governmental economic planning programs, targets, and objectives.

Requires Senate confirmation of any future Executive Director of the Council on International Economic Policy.