Free Trade in Ideas Foreign Affairs Amendments of 1987

Free Trade in Ideas Foreign Affairs Amendments of 1987 - Prohibits denying, revoking, or limiting a passport because of any speech, activity, belief, affiliation, or membership which, if held or conducted within the United States, would be protected by the first amendment. Prohibits denying, revoking, or limiting a passport except to the extent necessary to prevent conduct not described in the preceding sentence.

Amends the International Emergency Economic Powers Act and the Trading with the Enemy Act to declare that the authority granted the President under such Acts does not include the authority to regulate or prohibit: (1) any transactions ordinarily incident to travel to and from any country; (2) any transactions ordinarily incident to travel and maintenance within any country; (3) any transactions incident to nonscheduled flights or voyages to and from any country; (4) normal banking transactions incident to travel to and from any country; or (5) the importation or exportation of publications or other informational materials from any country.

Provides that Federal agencies, in carrying out a specified agreement on educational, scientific, and cultural exchanges, may not consider visual or auditory material as failing to qualify as international educational material simply because it advocates a particular position or because it might lend itself to misinterpretation or misrepresentation of the United States or other countries, their people, or institutions.