Department of International and Industry Trade Act of 1987

Department of International and Industry Trade Act of 1987 - Title I: Findings; Definitions - Sets forth congressional findings and definitions related to this Act.

Title II: Department of International Trade and Industry - Establishes an independent Department of International Trade and Industry which shall be administered by a Secretary of International Trade and Industry. Requires that the Secretary shall be the U.S. Trade Representative. Sets forth the functions of the Secretary. Requires the Secretary to be: (1) Chairman of the Board of the Overseas Private Investment Corporation; (2) Chairman pro tempore of the interagency organization established by this Act; and (3) Deputy Chairman of the National Advisory Council on International Monetary and Financial Policies. Directs the Secretary to consult with the Secretary of Agriculture on all matters which potentially involve international trade in agricultural products. Requires that the Secretary shall be Chairman and the Secretary of Agriculture shall be Vice Chairman of any negotiation that includes discussion of international trade in agricultural products.

Authorizes the Secretary, except where expressly prohibited by law, to assign the responsibility for conducting an international trade negotiation to the head of another Federal agency if the subject matter of the negotiation is related to the functions of that agency.

Establishes the position of Deputy Secretary of International Trade and Industry. Makes the Deputy Secretary Vice Chairman of the Board of Directors of the Export-Import Bank.

Establishes positions within the Department of under secretaries, assistant secretaries, general counsel, inspector general, and other senior positions, including: (1) Permanent Representative to the General Agreement on Tariffs and Trade; (2) Chief Negotiator for Textile Matters; (3) Director General of the United States Foreign and Commercial Services; (4) Deputy Commissioner of Patents and Trademarks; (5) Director of Small Business Trade Assistance; (6) Intergovernmental Adviser; (7) Director of the National Technical Information Service; (8) Director of the Office of Telecommunications and Information; (9) Director of the Office of Competitive Analysis; and (10) Administrator for Productivity and Technology.

Establishes in the Executive Office of the President an Economic Security Council to advise the President on the integration of national and international policies relating to international trade, business policy, and the competitiveness of American industry. Creates a staff for the Council, headed by an Economic Security Adviser.

Requires the President, if the provisions of a regulation, executive order, or executive agreement may have a significant impact on the international economic competitiveness of significant domestic product and service industries, to submit a statement to specified congressional committees describing the likely impact of such provisions. Requires such statement to be submitted at least 60 days before the regulation, order, or agreement will take effect. Authorizes the President to waive the impact statements if, in order to serve the national interest or to deal with an emergency situation, the regulation, order, or agreement must take effect immediately. Requires that the report of a bill or resolution which contains provisions that would have a significant impact on the international economic competitiveness of significant domestic product and service industries shall contain a statement describing the likely impact of such provisions.

Establishes within the Department the Office of Competitive Analysis, which shall provide information and analysis for the Secretary, the Department, and the Congress with respect to trade policy, trade negotiating strategy, and other policies affecting the competitiveness of domestic industries. Requires the Office of Competitive Analysis to report annually to the Congress on economic and technological developments affecting the competitive position of U.S. industry. Directs the Secretary to convene an industry sector competitiveness council for specified industry sectors to assess actual or potential dislocation, challenge, or opportunity for the industry involved and to formulate recommendations for business, government, and labor.

Establishes within the Department the Administration for Productivity and Technology, composed of the Patent and Trademark Office, the Office of Telecommunications and Information, and the National Technical Information Service.

Establishes within the Department the Office of Small Business Trade Assistance to provide information to small businesses concerning import relief remedies and export promotion. Requires the establishment of a system for paying reasonable expenses incurred by small businesses in connection with administrative proceedings under import relief laws. Limits payments to $50,000 plus 50 percent of the excess over $50,000. Authorizes appropriations for such purposes. Requires an annual report by the Office on its operations to specified congressional committees.

Title III: Transfers to the Department of International Trade and Industry - Transfers to the Secretary all functions of the U.S. Trade Representative and the Office of the U.S. Trade Representative.

Transfers to the Secretary, except for functions transferred by title IV: (1) all functions of the Secretary of Commerce; (2) all functions of the Department of Commerce; and (3) all functions of specified officers within the Department of Commerce.

Title IV: Transfers from the Department of Commerce - Subtitle A: Bureau of the Census - Establishes the Bureau of the Census as an independent agency. Transfers the Bureau of the Census of the Department of Commerce to the Bureau. Sets forth the powers and duties of the Bureau of the Census.

Directs the President to report to the Congress, within 90 days of the effective date of this Act, on the coordination of statistical functions between the Bureau and the Department involved in carrying out certain statistical functions.

Subtitle B: Economic Development Administration - Transfers the Economic Development Administration of the Department of Commerce to the Department of Agriculture.

Subtitle C: Minority Business Development Agency - Transfers the Minority Business Development Agency of the Department of Commerce to the Small Business Administration.

Subtitle D: National Bureau of Standards - Transfers the National Bureau of Standards to the National Science Foundation.

Subtitle E: National Oceanic and Atmospheric Administration - Continues the National Oceanic and Atmospheric Administration as a separate executive agency.

Title V: Administrative Provisions - Subtitle A: Personnel Provisions - Sets forth provisions dealing with personnel, including officers and employees, experts and consultants, and voluntary and uncompensated services.

Subtitle B: General Administrative Provisions - Sets forth provisions dealing with: (1) the power of the Secretary to delegate functions; (2) the succession of officers within the Department: (3) the authority of the Secretary to reorganize the Department; (4) the authority of the Secretary to issue rules and regulations; (5) the establishment of a working capital fund for the Department; (6) the transfer of funds; and (7) other administrative matters. Authorizes appropriations

Title VI: Transitional, Savings, and Conforming Provisions - Provides for transfers of other functions of the Secretary of Commerce which are not dealt with in earlier titles. Sets forth transitional, savings, and conforming provisions relating to changes made by this Act. Makes conforming amendments to the Inspector General Act of 1978, the Trade Expansion Act of 1962, the Trade Act of 1974, the Foreign Service Act of 1980, the International Travel Act of 1961, and the Public Works and Economic Development Act of 1965.

Amends the National Security Act of 1947 to state that it is the intent of the Congress that the Secretary of International Trade and Industry be invited to National Security Council meetings at which trade matters are considered.

Amends the Foreign Assistance Act of 1961 to require that the Secretary shall be the Chairman of the Board of Directors of the Overseas Private Investment Corporation and that the Director of the United States International Development Cooperation Agency shall be the Vice Chairman of such Board.

Terminates the Department of Commerce.

Title VII: Effective Date and Interim Appointments - Sets forth the effective dates for provisions of this Act. Provides for interim appointment of certain officers.