A bill to authorize the provision of assistance to foreign countries in exchange for strategic or critical raw materials.

Amends the Foreign Assistance Act of 1961 to direct the President, when it is deemed to be in the national interest, to endeavor to insure that assistance under such Act or under the Foreign Military Sales Act shall be furnished pursuant to agreements for the exchange of such assistance for strategic or critical raw materials. Permits the transfer of materials so obtained to any Federal agency for stockpiling, sale, transfer, disposal, or other purposes. Requires amounts received from such sales to be deposited as miscellaneous receipts in the United States Treasury.