A bill to establish a National Council for International Trade and Economic Policy, and for other purposes.

[AI summary unavailable — showing source text] Establishes the National Council for Trade and International Economic Policy in the Executive Office of the President to provide advice with respect to: (1) the integration of national and international policies relating to international trade, business policy, and other issues affecting the competitiveness of American industry; and (2) coordinating the functions of all departments and agencies of the U.S. Government to accomplish a more consistent international economic policy. Requires the Council to transmit to the Congress annual reports on the international trade and economic position of the United States. Requires the President to submit an impact statement to specified congressional committees 60 days before the effective date of any regulation, executive order, or executive agreement which may have a significant impact on domestic industries' ability to compete in domestic and international markets against foreign products. Allows the President to waive such requirement in order to serve the national interest or deal with emergency situations. Requires the respective committees of the Senate and the House of Representatives to include an impact statement with any reported b…