Commission on the Importation of Japanese Semiconductors and Integrated Circuits Establishment Act of 1988

Commission on the Importation of Japanese Semiconductors and Integrated Circuits Establishment Act of 1988 - Establishes the Commission on the Importation of Japanese Semiconductors and Integrated Circuits. Directs the Commission to: (1) determine whether any Japanese act, policy, or practice with respect to the export of semiconductors and integrated circuits to the United States is unreasonable; and (2) transmit a report to the Congress and the President. Requires the Commission further to determine whether such act, policy, or practice burdens or restricts U.S. commerce if it is determined to be unreasonable. Terminates the Commission in the event its determinations are negative.

Directs the Commission, if its determinations are affirmative, to impose an additional duty on imported Japanese electronic products.

Establishes in the Treasury the National Manufacture of Semiconductors and Integrated Circuits Trust Fund. Sets forth the purposes of the Fund. Requires the Secretary to report to the Congress with regard to such fund.

Amends the Small Business Act to authorize the Small Business Administration to make direct loans to assist small businesses in financing plant construction, conversion, expansion, including acquisition of land for such plant, or startup, and the acquisition of equipment to enable such business to manufacture semiconductors or integrated circuits.