A bill to amend the Tariff Schedules of the United States to establish a temporary tariff rate quota for certain iron and steel articles in order to stimulate fair and free competition in the world steel trade.

Amends the Tariff Schedules of the United States to revise temporarily the customs duties on the importation of iron or steel products, and to impose a temporary import quota on such products. Directs the Secretary of the Treasury to deposit revenues under this Act into the Adjustment Assistance Trust Fund.