Antifriction Bearing Orderly Trade Act

Antifriction Bearing Orderly Trade Act - Provides that the Congress finds that increased imports of antifriction ball and roller bearings and parts thereof have resulted in such a reliance upon foreign sources for substantial segments of antifriction bearings requirements as to threaten to impair the national security.

Declares it to be the policy of Congress that access to the United States market for foreign-produced antifriction bearings should be on a basis to insure orderly trade and to prevent the reduction of the potential of this essential industry to meet all national security emergencies.

Permits the President to negotiate multilateral or bilateral agreements to establishing, for periods beginning on or after the date of the enactment of this Act, annual quantitative limitations on United States imports based on a percentage equal to the percentage of average annual consumption represented by imports during the years 1961-1966.