Imported Coal Tariff and Trade Equalization Act of 1985

Imported Coal Tariff and Trade Equalization Act of 1985 - Amends the Tariff Schedules of the United States to grant duty-free treatment to coal from any country that has historically imported more coal from the United States than it has exported to the United States. Imposes a duty on coal from other countries. Requires the President to adjust the duty in accordance with findings made by the Secretary of Commerce. Requires the Secretary, upon receipt of a petition by an interested party, to determine the environmental, health, welfare, and safety cost for producing coal in a foreign country and in the United States. Requires the President to: (1) increase the duty if the U.S. cost exceeds the foreign country's cost; or (2) decrease the duty if the foreign country's cost exceeds the U.S. cost.

Amends the Trade Act of 1974 to add coal subject to such duty to the list of articles which cannot be designated as eligible articles for the Generalized System of Tariff Preferences.