A bill to provide the President with authority to accelerate certain staged rate modifications to the Tariff Schedules of the United States.

Authorizes the President, under specified conditions relating to the carrying out of certain agreements under the Trade Act of 1974, to proclaim that any staged rate modification of the Tariff Schedules of the United States shall take effect at any time during the one-year period preceding the proclaimed date of each staged rate reduction as contained in such agreements if he determines that reciprocal action has been, or is about to be, taken by a foreign country which has significant trade in exports to the United States of the item to which such modification applies.