To bar the imposition of increased tariffs or other retaliatory measures against the products of the European Union in response to the banana regime of the European Union.

Prohibits the United States Trade Representative (USTR), the U.S. Customs Service, and any other U.S. agency or officer from taking any action to: (1) implement the decision of the Office of the USTR announced on March 3, 1999, to withhold liquidation on imports valued at over $500 million of selected European Union (EU) products; and (2) impose increased tariffs on, or impose other retaliatory measures against, EU products in response to the EU banana regime that is the subject of dispute proceedings before the World Trade Organization. Requires the refund of any deposit given or duties paid pursuant to such decision by any importer before enactment of this Act.

Declares that, if before the enactment of this Act the EU imposes any increased tariffs on, or other retaliatory measures against, U.S. products in response to the March 3 decision, or in response to any increased tariffs on, or other retaliatory measures against, EU products imposed by the United States in response to the EU banana regime, then this Act shall take effect only upon the President's certification that the EU has revoked such tariffs or other measures.