To authorize the extension of unconditional and permanent nondiscriminatory treatment (permanent normal trade relations treatment) to the products of Ukraine, and for other purposes.

This bill, introduced in 2005, sought to establish permanent normal trade relations (PNTR) between the United States and Ukraine by removing certain Cold War-era trade restrictions. If enacted, it would have granted Ukrainian goods the same low-tariff access to U.S. markets enjoyed by most other international trading partners, while establishing a framework for Ukraine’s eventual entry into the World Trade Organization (WTO).

For American citizens and businesses, the bill aimed to stabilize trade costs and provide more predictable pricing for imported Ukrainian goods, such as steel and agricultural products. While the legislation would have opened new export opportunities for U.S. companies, it also included "safeguard" rules to protect domestic industries from sudden surges in imports. This specific bill did not become law, though Congress eventually passed similar legislation to grant Ukraine permanent normal trade relations in 2006.