Trade Emergency and Export Promotion Act

[AI summary unavailable — showing source text] Trade Emergency and Export Promotion Act - Declares that actions by the President, the International Trade Commission (ITC), the Secretary of the Treasury, the Secretary of Agriculture, and the U.S. Trade Representative (USTR) pursuant to this Act shall not be reviewable by any court, except for abuse of discretion. Title I: International Trade Actions and Agreements - Declares that a national emergency exists because of distortions and imbalances in trade and instability in exchange rates and that such emergency requires extraordinary measures, including action to: (1) restore the value of the dollar; and (2) either eliminate foreign unfair trade barriers or prohibit countries which employ such barriers from enjoying trade surpluses with the United States or increasing shares of world export markets. Authorizes the President to negotiate and enter into with any foreign country or entity agreements limiting the export from such country or entity, and the importation into the United States, of any article. Directs the USTR to initiate proceedings against Japan before appropriate international bodies in order to obtain authorization to take trade actions against Japan on the grounds …