Cargo Theft Deterrence Act of 1997 - Amends the Federal criminal code regarding thefts pertaining to interstate or foreign shipments by carrier to include thefts of trailers and air cargo containers and thefts from freight consolidation facilities. Increases the maximum penalty from one year to three years imprisonment.

Authorizes the court, upon motion of the Attorney General, to reduce any penalty imposed under such provisions for any defendant who provides information leading to the arrest and conviction of any dealer or wholesaler of stolen goods or chattels moving as, which are a part of, or which constitute, an interstate or foreign shipment.

Specifies that goods and chattel shall be construed to be moving as an interstate or foreign shipment at all points between the point of origin and the final destination.

Makes it an affirmative defense that the defendant bought, received, or possessed the goods at issue with the sole intent to report the matter to an appropriate law enforcement officer or to the owner.

Directs: (1) the United States Sentencing Commission to amend the Federal sentencing guidelines to provide a sentencing enhancement of not less than two levels for any such offense; and (2) the Attorney General to annually submit to the Congress a report including an evaluation of law enforcement activities relating to the investigation and prosecution of such offenses.

Establishes the Advisory Committee on Cargo Theft to study, and develop recommendations regarding, the establishment of: (1) a national computer database for the collection and dissemination of information relating to violations of cargo theft provisions; and (2) an office within the Federal Government to promote, and to increase coordination between the Government and the private sector regarding, cargo security. Authorizes appropriations.