Reciprocity Incentive for Trade Equality Act

Reciprocity Incentive for Trade Equality Act - Imposes an import surcharge on articles imported during the period between the date of enactment of this Act and the date of enactment of a specified trade reciprocity bill. Establishes the Trade Consultation Group composed of the members of the congressional trade subcommittees. Requires the Trade Consultation Group to undertake discussions with foreign countries in order to identify and evaluate those actions that would achieve the U.S. negotiating objectives of more open and equitable market access and the harmonization, reduction, or elimination of distortions to trade and commerce. Requires the introduction of a trade reciprocity bill containing the legislative proposals of the Trade Consultation Group if the Trade Consultation Group decides that its proposals, if enacted, will achieve the U.S. negotiating objectives and will impose sufficient conditions to ensure that the foreign country will undertake appropriate actions to achieve those objectives. Provides for expedited consideration of the trade reciprocity bills.