This legislation, titled the Reclaim Trade Powers Act , seeks to repeal section 122 of the Trade Act of 1974 . This specific section currently grants the President significant authority related to balance-of-payments issues, allowing for certain actions to address international trade imbalances. By eliminating this provision, the bill aims to remove this particular executive power over trade. The legislation also includes necessary clerical and conforming amendments to other parts of the Trade Act of 1974 to ensure consistency with the repeal.