A bill to amend the Trade Act of 1974 in order to authorize the President to designate members of the Organization of Petroleum Exporting Countries who have not withheld supplies of vital commodity resources from international trade as eligible for the tariff preferences extended to developing countries under title V of that Act.

Amends the Trade Act of 1974 to prohibit the President from designating as a "beneficiary developing country" any member of the Organization of Petroleum Exporting Countries (or a party to any other arrangement of foreign countries) which withholds vital commodities from international trade and raises the price of such commodities to an unreasonable level (currently the President is prohibited from designating as a "beneficiary developing country" an OPEC or other cartel member which engages in either of these activities).