A bill to amend the Trade Act of 1974 in order to authorize the President to designate any of certain countries as eligible for the tariff preferences extended to developing countries under title V of such act if the President determines that such designation is in the national economic interest.

Amends the Trade Act of 1974 to prohibit the President from designating a country as a beneficiary developing country, for purposes of tariff preferences (under the President's authority to confer such designation when he determines it to be in the national economic interest), when such country has participated, or is participating, in withholding supplies of any vital commodity resource from international trade.