The Trade Act of 1974 created fast track authority for the President to negotiate trade agreements that Congress can approve or disapprove but cannot amend or filibuster. The Act provided the President with tariff and non-tariff trade barrier negotiating authority for the Tokyo Round of multilateral trade negotiations. Gerald Ford was the President at the time.
The Trade Act of 1974 granted the President expedited authority to negotiate trade agreements, which Congress could approve or reject but couldn't alter or obstruct. The Act gave the President power over tariffs and non-tariff barriers in trade negotiations. This was during Gerald Ford's presidency.