Interstate and Foreign Commerce Development Act

[AI summary unavailable — showing source text] Interstate and Foreign Commerce Development Act - Establishes an Interstate and Foreign Commerce Development Council within the Department of Commerce to: (1) consult with the Secretary of Commerce on the development of U.S. policies to improve U.S. competitiveness; (2) provide a forum for discussion of problems regarding U.S. industrial competitiveness; (3) assist the Secretary in preparing reports and formulating recommendations; (4) consult with the Secretary regarding consultations with foreign governments; and (5) undertake studies. Directs the Secretary to appoint sectoral advisory panels consisting of persons having knowledge of particular industries or industrial sectors. Declares that the United States should seek consultations with foreign governments to reduce or to eliminate acts which deny fair and equitable access to foreign markets for U.S. goods or services or which otherwise burden or restrict U.S. commerce. Directs the Secretary to consult regularly with specified congressional committees to discuss policy priorities. Sets forth the principal U.S. objectives of consultations with foreign governments with respect to: (1) service industries; (2) foreign direct inves…