A bill to amend section 503 of the Trade Act of 1974 to limit eligibility of agricultural products and by-products under the Generalized System of Preferences.

[AI summary unavailable — showing source text] Amends the Trade Act of 1974 to prohibit the President from making new agricultural products or byproducts eligible articles under the Generalized System of Preferences as of January 1, 1984. Declares that no agricultural products or byproducts which are like or directly competitive with U.S. products shall be eligible under the Generalized System of Preferences after January 1, 1985.…