A bill to clarify the oversight role of the Congress with respect to Presidential decisions under section 203 of the Trade Act of 1974.

Amends the Trade Act of 1974 to direct the President to notify Congress if the President proclaims the import relief recommended by the International Trade Commission (ITC) or announces an intention to negotiate one or more orderly marketing agreements pursuant to the ITC's recommendation.

Requires the President to notify Congress if the President determines that: (1) the provision of the import relief recommended by the ITC is not in the national economic interest; and (2) there are alternatives which will be as effective in offsetting the material injury or threat of material injury to affected industry. Requires such notification to include reasons for finding that the import relief recommended by the ITC is not in the national economic interest, information on the actions the President proposes to take, and proposed legislation to implement the President's recommendations. Requires the President's proposed legislation to be given expedited consideration in the Congress.