Fair Trade in Auto Parts Act of 1987

Fair Trade in Auto Parts Act of 1987 - Requires the Secretary of Commerce to establish an initiative to increase the sale of U.S.-made auto parts to Japanese markets in Japan, in the United States, and in third markets. Sets forth specified actions the Secretary should take to achieve such increase in sales.

Directs the Secretary to establish a Special Industry Advisory Committee on Auto Parts Sales in Japan. Sets forth the functions of the Committee, including to: (1) report to the Secretary on Japanese barriers to sales of U.S. auto parts in Japanese markets; (2) advise the Secretary during consultation with Japan on issues concerning such sales; and (3) report annually to the Congress on the progress of such U.S. sales to Japan.