Intellectual Property and Trade Act - Amends the Tariff Act of 1930 to make unlawful acts of importation into, or sale in, the United States of articles that infringe a valid U.S. patent, copyright, trademark, or U.S. maskwork. Permits any person to petition the International Trade Commission (ITC) for the issuance of an order to exclude such articles, during its investigation, from entry into the United States. Sets forth: (1) civil penalties for violations under this Act; and (2) procedures for the modification or rescission of an ITC order under this Act. Repeals a specified section of the Tariff Act of 1930 relating to the importation of products produced under a process covered by claims of an unexpired patent.