A bill to amend the Trade Act of 1974 to establish certain limitations with respect to the generalized system of preferences, and for other purposes.

[AI summary unavailable — showing source text] Amends the Trade Act of 1974 to prohibit a country from being treated as a beneficiary developing country with respect to all articles in a specified standard industrial classification (as defined by the Census Bureau) if the President determines that the United States has imported more than a specified quantity of articles within such classification during a calendar year. Prohibits redesignating such a country as a beneficiary developing country with respect to such articles. Denies all articles within such classification general system of preference treatment. Prohibits a country's merchandise from being eligible for duty-free treatment if it is subject to antidumping or countervailing duties or if its U.S. competitors qualify for trade adjustment assistance. Prohibits a country's merchandise from being eligible for duty-free treatment if it is subject to import relief provisions. Prohibits duty-free treatment of any article or component of that article if any like or directly competitive article is otherwise denied duty- free treatment. Adds to the list of countries that cannot be designated beneficiary developing countries any country which: (1) imposes export requirements as …