Council on Industrial Competitiveness Act

Council on Industrial Competitiveness Act - Establishes in the executive branch an independent agency to be known as the Council on Industrial Competitiveness. Requires the Council to: (1) gather and analyze information regarding the competitiveness of U.S. industries; (2) create an institutional forum where national leaders will identify economic problems inhibiting the competitiveness of industries, develop long-term strategies to address those problems, and create broad consensus in support of those strategies; (3) make recommendations on issues crucial to the development of coordinated industrial strategies; (4) develop and promote policies which enhance the productivity and international competitiveness of U.S. industries; and (5) assess and make recommendations on private sector requests for governmental assistance. Directs the Council to examine and make available to the public all international agreements on foreign trade that have been agreed to by the United States. Directs the Council to monitor, and maintain public records regarding, the effect of imports on domestic industries.

Requires the Council, not later than one year after the date of enactment of this Act, to transmit a report to the Congress and the President containing recommendations for changes in any Federal policy necessary to implement effective industrial strategies.

Requires the Council to make annual reports concerning the major industrial development priorities of the United States.

Authorizes appropriations for FY 1988.