This bill provides that unless the specified conditions set forth in this bill are met:

• Congress withdraws its approval of the North American Free Trade Agreement (NAFTA) effective one year after enactment of this bill; and
• the President, not later than six months after this bill's enactment, shall provide written notice of withdrawal to the governments of Canada and Mexico.

The bill requires the President to confer with the governments of Canada and Mexico and renegotiate NAFTA to correct:

• trade deficits,
• currency distortions, and
• the impact of agricultural imports on U.S. agricultural production.

The bill also prescribes requirements for:

• gains in U.S. jobs and living standards,
• increased domestic manufacturing,
• health and environmental standards,
• a non-increase in crime with illegal drugs, and
• democracy and human freedoms in Mexico.

The bill expresses the sense of Congress that, until the conditions set forth in this bill are met, the President should not engage in negotiations to expand NAFTA to include other countries, and trade promotion authority should not be renewed with respect to the approval of any such NAFTA expansion.