This legislation aims to significantly curtail the President's unilateral authority to impose tariffs and other trade restrictions. It specifically mandates the termination of duties imposed by three enumerated Executive Orders, along with any substantially similar successor orders, effectively nullifying their force and effect upon the bill's enactment. The core purpose is to shift the power over such trade actions from the executive to the legislative branch. Moving forward, the bill stipulates that the President must obtain a joint resolution of approval from Congress before imposing or increasing any duty, quota, or tariff-rate quota, or before suspending or withdrawing trade agreement concessions. This requirement applies broadly but includes specific exclusions for certain trade remedies, such as antidumping and countervailing duties, and duties resulting from specific international dispute settlement rulings. The bill also outlines expedited procedures for the consideration of these joint resolutions of approval in both the House and Senate.