A bill to impose a surcharge duty on the imports of certain foreign countries.

Imposes a surcharge duty on any product of a foreign country during the one-year period beginning on April 1 of any calendar year if the United States had a trade balance deficit with such country that exceeded $16,000,000,000 per year for the three preceeding calendar years. Allows for a Presidential exemption of a product from the surcharge duty if the product would be eligible for exemption under specified provisions of the Trade Act of 1974.