A concurrent resolution to clarify the application of the Trade Act of 1974.

Provides that any commodity agreement made by the United States with a foreign nation shall be subject to those provisions of the Trade Act of 1974 which encourage the elimination of barriers to international trade. Requires that any such agreement be referred to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate.

Defines the term "commodity agreement" to include any agreement, other than a treaty, entered into by the United States with any foreign country, group of foreign countries, or instrumentality which is intended to assure access to supplies, and stabilize prices, or to stabilize earnings from a product of such country, group of countries, or instrumentality.