A bill relating to the enforcement of the Steel Import Stabilization Act.

Amends the Steel Import Stabilization Act to provide that any steel product that is manufactured in a country that is not party to a bilateral arrangement (a non-arrangement country) from steel which is melted and poured in a country that is an arrangement country will be treated for purposes of the quantitative restrictions under that arrangement as if it were a product of an arrangement country. Requires the Customs Serivce, if provided with documentation that a steel product was exported by an arrangement country to a non-arrangement country where the product was transformed for export to the United States, to treat such documented product as if it were a product of the arrangement country for purposes of quantitative restrictions.

Requires the U.S. Trade Representative (USTR) to consult with Canada, Sweden, and Taiwan for the purpose of negotiating bilaterial steel arrangements with such countries. Restricts imports of steel from such countries if such consultations do not result in the successful negotiation of arrangements within 90 days of enactment of this Act.

Authorizes the USTR to waive or modify such restrictions if it is in the national economic interest to do so. Requires the USTR to review such decision semiannually and, if appropriate, reimpose such restrictions. Requires the USTR to report to the appropriate congressional committees on such decisions and reviews.

Requires the Secretary of Commerce to monitor imports under the bilateral arrangements in order to determine whether import restrictions are being complied with. Provides for enforcement of such restrictions based on the monitoring reports.