A bill to direct the President to seek an agreement with other countries to prohibit restrictive business practices, to amend the Trade Act of 1974 to allow the President to take certain actions against countries engaging in restrictive business practices, and for other purposes.

Directs the President to seek an agreement of the signatory countries of the General Agreement on Tariffs and Trade to prohibit restrictive trade practices.

Expresses the sense of the Congress that such an agreement should impose an obligation on each signatory nation to enact and enforce legislation prohibiting restrictive trade practices within its respective jurisdiction.

Amends the Trade Act of 1974 to include restrictive business practices by a foreign country or instrumentality affecting United States commerce or requiring United States concerns to engage in such practices within the coverage of such Act. Defines restrictive business practices for purposes of such Act.