A bill to amend section 504 of the Trade Act of 1974 to establish certain limitations with respect to the Generalized System of Preferences.

[AI summary unavailable — showing source text] Amends the Trade Act of 1974 to exclude from treatment as a beneficiary developing country (for purposes of tariff preferences with respect to articles within specified Major Groups) any country that has exported to the United States during a calendar year a quantity of such articles having an appraised value in excess of a specified proportional amount. Makes ineligible for tariff preferences any merchandise subject to countervailing or antidumping duties.…