A bill to amend the Trade Act of 1974 in order to authorize the President to designate any country which is a member of the Organization of Petroleum Exporting 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 and the Congress does not disapprove the designation.

Amends the Trade Act of 1974 to permit the President to designate as a beneficiary developing country, eligible for duty-free treatment, a country which is a member of the Organization of Petroleum Exporting Countries (OPEC), unless the Congress disapproves such designation within 30 days. Prohibits the President from designating as a beneficiary developing country those countries which aid terrorists.

Permits motions to discharge committees from further consideration of a resolution disapproving the designation of an OPEC country as a beneficiary developing country, if such committee has not reported it within ten days of introduction.