To extend until June 1, 1996, the authority of the President to enter into certain trade agreements and to apply Congressional "fast track" procedures to bills implementing such agreements.

Amends the Omnibus Trade and Competitiveness Act of 1988 to extend the President's authority to enter into certain trade agreements with foreign countries. Applies congressional "fast track" procedures to implementing bills with respect to such trade agreements, including trade agreements pursuant to the Uruguay Round of trade negotiations under the General Agreement on Tariffs and Trade (GATT).