Trade Reorganization Act of 1987

Trade Reorganization Act of 1987 - Title I: General Provisions - Sets forth the congressional findings and purposes of this Act.

Title II: Department of Commerce and Trade - Establishes the Department of Commerce and Trade to be administered by the Secretary of Commerce and Trade (the Secretary). Sets forth the functions of the Secretary including: (1) exercising responsibility for international trade matters, except for responsibilities delegated to the Secretary of Agriculture; (2) analyzing economic and sectoral trends; (3) developing and implementing commercial policies to expand U.S. business and employment opportunities; (4) promoting new opportunities for U.S. products and services to compete in the world marketplace; (5) assisting small businesses in developing export markets; and (6) administering U.S. laws relating to trade. Requires the Secretary to be Deputy Chair 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.

Authorizes the Secretary to assign the head of a Federal agency the responsibility for an international trade negotiation if the subject of the negotiation is related to the functions of the agency.

Provides for three Deputy Secretaries of Commerce and Trade and two Under Secretaries of Commerce and Trade. Limits the number of Assistant Secretaries of Commerce and Trade to eight. Provides for a General Counsel, Inspector General, Chief Negotiator for Textile Matters, Director General of the United States and Foreign Commercial Service, and Agricultural Adviser. Sets forth their functions.

Transfers to the Secretary: (1) all functions of the U.S. Trade Representative and the Office of the U.S. Trade Representative; and (2) specified functions of the Department of Commerce.

Sets forth administrative provisions governing the Department of Commerce and Trade. Provides for delegation of the Secretary's authority and succession of officers of the Department of Commerce and Trade.

Authorizes the Secretary to: (1) reorganize the Department, under certain conditions; (2) prescribe regulations; (3) establish a working capital fund; (4) transfer funds, subject to certain limitations, within the Department; (5) make contracts and payments; (6) accept gifts and bequests, under certain circumstances; and (7) issue publications. Provides for: (1) the Secretary's use of public and private resources; (2) departmental field offices; and (3) travel expenses. Authorizes other entities to use the resources of the Department under certain conditions.

Directs the Secretary to report annually to the President on the activities of the Department.

Establishes in the Executive Office of the President an Office of the Assistant to the President for International Trade who shall provide the President with policy options on international trade matters and, in cooperation with the Trade Policy Committee, coordinate those policies and activities affecting international trade that are carried out by Federal agencies.

Amends the Trade Expansion Act of 1962 to establish in the Executive Office of the President a Trade Policy Committee to assist the President in carrying out certain trade functions. Directs the Trade Policy Committee to pay particular attention to expanding the responsibilities of the Department of Agriculture in matters affecting international trade. Sets forth the membership of the Trade Policy Committee.

Amends the Export-Import Bank Act of 1945 to change the membership of the Board of Directors of the Export-Import Bank to include a Deputy Secretary of the Department of Commerce and Trade.

Amends the Foreign Assistance Act of 1961 to give the Secretary authority to give policy guidance to the Overseas Private Investment Corporation (OPIC). Directs OPIC to carry out a specified trade development program. Makes an Under Secretary of Commerce and Trade the Vice Chairman of OPIC's Board of Directors, ex officio.

Amends the Bretton Woods Agreement Act to direct the U.S. executive director of the International Monetary Fund (IMF) to consult with the Secretary on matters under consideration by the IMF which relate to trade.

Directs the Secretary of Agriculture, with respect to agricultural trade matters, to: (1) report directly to the President and the Congress; (2) keep the advisers to U.S. delegations to trade conferences informed on U.S. negotiating objectives, the status of negotiations, and the nature of any recommended changes in domestic law or regulations; and (3) consult with State and local governments and other interested parties concerning international agricultural trade matters.

Makes certain technical and conforming amendments, repeals certain authority and makes certain terminations.

Title III: Transitional, Savings and Conforming Provisions - Makes certain transitional, savings, and conforming amendments.

Title IV: Miscellaneous - Sets forth definitions and effective dates. Provides for interim appointments and compliance with the budget. Authorizes appropriations.