A bill to repeal the provisions of law under which the denial of nondiscriminatory treatment (most-favored-nation treatment) to nonmarket economy countries under title IV of the Trade Act of 1974 may be waived.

Amends the Trade Act of 1974 to repeal the provisions which permit the President to waive the denial of nondiscriminatory treatment (most-favored-nation treatment) to nonmarket economy countries. Permits any extension of a waiver to continue in effect for the duration of the extension period.