A bill to require the President to take certain actions in response to nontariff trade barriers imposed against the United States by foreign countries.

Amends the Trade Act of 1974 to direct the President to determine, within 90 days of enactment, the foreign countries that impose nontariff trade barriers on U.S. imports. Directs the President to publish a list of such countries within 120 days of enactment. Authorizes the President to revise such list.

Authorizes any interested person to file with the United States Trade Representative (USTR) a petition alleging that a foreign country is imposing nontariff trade barriers that restrict U.S. commerce or impair the growth of markets in that foreign country for a U.S. product. Directs the USTR to determine whether the allegations are true. Directs the USTR to inform the President of any such determination. Sets forth time limits on the actions by the USTR.

Directs the President to impose trade restrictions on U.S. imports of a foreign country's products that will have an economic effect equivalent to the nontariff trade barriers imposed by that country if it is determined that such country imposed nontariff trade barriers. Requires the President to impose such restrictions within 60 days of such determination notwithstanding any trade agreement between the United States and that country. Requires the trade restrictions to remain in effect until the President, acting through the USTR, determines that the foreign country has removed the nontariff trade barriers.

Sets forth the responsibilities of the USTR with respect to petitions for the imposition of reciprocal trade restrictions. Requires the President to report to Congress: (1) the results of all determinations of the existence of foreign nontariff trade barriers; and (2) all actions taken to impose reciprocal trade restrictions.