A bill to amend the Trade Act of 1974 to provide for congressional initiation of actions to respond to unfair foreign trade practices, and for other purposes.

Amends the Trade Act of 1974 to authorize Congress to initiate Presidential actions against unfair foreign trade practices by adopting a concurrent resolution that: (1) states that Congress considers such a country's or an instrumentality's act, policy, or practice to be a denial of benefits to the United States under trade agreements or to be unjustifiable and a burden on U.S. commerce; and (2) requests the President to take action. Requires the President to notify Congress within 21 days of what action, if any, the President will take against such foreign trade practices.

Requires the President to submit an annual report to Congress specifying with respect to foreign countries or instrumentalities with which the United States had a negative trade balance: (1) the extent to which such negative trade balance was attributable to unfair foreign trade practices; and (2) what actions were taken to eliminate such practices.