Emergency China Trade Act - Expresses the sense of Congress that: (1) a persistent trade deficit with the People's Republic of China (PRC) is harmful to the long-term health of the U.S. economy and must be corrected, and (2) the President should begin immediate negotiations with the PRC to eliminate the trade deficit within four years.
Withdraws the extension of nondiscriminatory treatment (normal trade relations) from PRC products.
Requires the President to: (1) negotiate a balanced trade relationship between the United States and the PRC within four years after enactment of this Act; and (2) submit trade implementing legislation to Congress, which shall be considered on an expedited basis.