Major Export Market Trade Equity Act of 1989

Major Export Market Trade Equity Act of 1989 - Extends to an otherwise ineligible nonmarket economy country nondiscriminatory treatment (most-favored-nation treatment) during any market year after 1989 if the President determines that: (1) the country either has the potential to become a major export market for U.S. products which nondiscriminatory treatment will enhance, or is already such a market; (2) during the corresponding calendar year that country will not receive nondiscriminatory treatment for its products under any other U.S. law; and (3) during the preceding calendar year that country had a negative trade balance with the United States. Requires the President to determine those nonmarket economy countries eligible for such treatment before the start of each market year after 1989 and to publish a list of such countries in the Federal Register. Requires the President to submit an annual report to specified congressional committees.