Trade Adjustment Assistance Amendments of 1985

Trade Adjustment Assistance Amendments of 1985 - Amends the Trade Act of 1974 to extend the trade adjustment assistance programs through FY 1989.

Establishes within the Treasury the Trade Adjustment Assistance Trust Fund which shall be used to provide adjustment assistance for workers.

Directs the President to undertake negotiations to change the General Agreement on Tariffs and Trade (GATT) so that a country may impose a small uniform duty on all imports in order to fund a program which assists the workers and firms of that country to adjust to import competition.

Imposes an import surcharge on all imports at a uniform rate determined by the President to be in accordance with the GATT and to fund the trade adjustment assistance program for workers. Requires the fees collected from such surcharge to be deposited in the Trade Adjustment Assistance Trust Fund.