Department of International Trade and Industry Act of 1987

Department of International Trade and Industry Act of 1987 - Title I: General Provisions - Sets forth congressional findings and definitions related to this Act.

Title II: Department of International Trade and Industry - Part A: Establishment - Establishes an independent Department of International Trade and Industry which shall be administered by a Secretary of International Trade and Industry. Requires that the Secretary shall be the U.S. Trade Representative. Sets forth the functions of the Secretary. Requires the Secretary to be: (1) Chairman of the Board of the Overseas Private Investment Corporation; (2) Chairman pro tempore of the interagency organization established pursuant to the Trade Expansion Act of 1962; (3) a member of the National Security Council; and (4) Deputy Chairman 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. Requires that the Secretary shall be chairman and the Secretary of Agriculture shall be Vice Chairman of any negotiation that includes discussion of international trade in agricultural products.

Authorizes the Secretary, except where expressly prohibited by law, to assign the responsibility for conducting an international trade negotiation to the head of another Federal agency if the subject matter of the negotiation is related to the functions of that agency.

Requires the President, if the provisions of a regulation, executive order, or executive agreement may have a significant impact on the international economic competitiveness of significant domestic product and service industries, to submit a statement to specified congressional committees describing the likely impact of such provisions. Requires such statement to be submitted at least 60 days before the regulation, order, or agreement will take effect. Authorizes the President to waive the impact statements if, in order to serve the national interest or deal with an emergency situation, the regulation, order, or agreement must take effect immediately. Requires that the report of a bill or resolution which contains provisions that would have a significant impact on the international economic competitiveness of significant domestic product and service industries shall contain a statement describing the likely impact of such provisions.

Part B: Offices and Administrations - Establishes in the Office of the Secretary the Office of the U.S. Trade Representative. Establishes within the Office of the U.S. Trade Representative the Deputy U.S. Trade Representative.

Establishes within the Department: (1) the United States Travel and Tourism Administration; (2) the Administration for Productivity and Technology (composed of the Patent and Trademark Office, the National Bureau of Standards, the Office of Telecommunications and Information, and the National Technical Information Service); and (3) the Office of Competitive Analysis, which shall provide information and analysis for the Secretary, the Department, and the Congress with respect to trade policy, trade negotiating strategy, and other policies affecting the competitiveness of domestic industries. Requires the Office of Competitive Analysis to report annually to the Congress on economic and technological developments affecting the competitive position of U.S. industry. Directs the Secretary to convene an industry sector competitiveness council for specified industry sectors to assess actual or potential dislocation, challenge, or opportunity for the industry involved and to formulate recommendations for business, government, and labor.

Part C: Officers - Establishes in the Department a Deputy Secretary of International Trade and Industry who, among other things, shall be Vice Chairman of the Board of Directors of the Export-Import Bank of the United States.

Establishes within the Department three Under Secretaries of International Trade and Industry, including an Under Secretary for Travel and Tourism.

Establishes within the Department an Administrator for Productivity and Technology who shall administer the Administration for Productivity and Technology.

Establishes within the Department nine Assistant Secretaries including an Assistant Secretary for Patents and Trademarks and an Assistant Secretary for Communications and Information.

Establishes within the Department a General Counsel and an Inspector General. Lists other officers within the Department.

Part D: Transfers to the Department - Transfers to the Secretary all functions of the U.S. Trade Representative and the Office of the U.S. Trade Representative.

Transfers to the Secretary, except for functions transferred by titles III, IV, and V: (1) all functions of the Secretary of Commerce; (2) all functions of the Department of Commerce; and (3) all functions of specified officers within the Department of Commerce.

Part E: Administrative Provisions - Sets forth provisions dealing with: (1) personnel issues; (2) the power of the Secretary to delegate functions; (3) the succession of officers within the Department; (4) the authority of the Secretary to reorganize the Department; (5) the authority of the Secretary to issue rules and regulations; (6) the establishment of a working capital fund for the Department; (7) the transfer of funds; and (8) other administrative matters.

Part F: Related Agencies - Amends the Trade Expansion Act of 1962 to require that the interagency trade organization established pursuant to that Act shall be composed of the President, the Secretaries of International Trade and Industry, Agriculture, Defense, Labor, and the Treasury, and the heads of such other departments and agencies and such other officers as the President shall designate.

Amends the Export-Import Bank Act of 1945 to require that the Deputy Secretary of International Trade and Industry shall serve as Vice Chairman of the Board of Directors of the Export-Import Bank.

Amends the Foreign Assistance Act of 1961 to require that the Secretary shall be the Chairman of the Board of Directors of the Overseas Private Investment Corporation and that the Director of the United States International Development Cooperation Agency shall be the Vice Chairman of such Board.

Amends the National Security Act of 1947 to make the Secretary a member of the National Security Council.

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

Establishes within the Executive Office of the President a Council on International Trade, Economic, and Financial Policy to coordinate U.S. trade policies with U.S. international economic policies.

Establishes within the Executive Office of the President an Advisor to the President for International Trade, Economic, and Financial Policy who shall be Executive Director of the Council and Executive Director of the interagency organization established pursuant to the Trade Expansion Act of 1962. Requires the Advisor to report to the President and the Congress every six months on actual and potential conflicts between U.S. international economic policies and U.S.trade policies.

Part G: Conforming Provisions - Sets forth conforming amendments.

Title III: Establishment of National Oceanic and Atmospheric Administration as an Independent Agency - National Oceanic and Atmospheric Administration Act of 1983 - Part A: Establishment of Administration - Establishes the National Oceanic and Atmospheric Administration (Administration) as an independent agency. Requires the Administration to include specified officers, including an Administrator (appointed by the President) and a Deputy Administrator. Transfers the National Oceanic and Atmospheric Administration of the Department of Commerce to the Administration.

Part B: Administrative Provisions - Sets forth administrative provisions. Requires the Administrator to report annually to the President on the activities of the Administration.

Title IV: Establishment of the Bureau of the Census as an Independent Agency - Establishes the Bureau of the Census as an independent agency. Transfers the Bureau of the Census of the Department of Commerce to the Bureau. Sets forth the powers and duties of the Bureau of the Census.

Directs the President to report to the Congress, within 90 days of the effective date of this Act, on the coordination of statistical functions between the Bureau and the Department offices involved in carrying out certain statistical functions.

Title V: Transfers to Other Federal Agencies - Part A: Minority Business Development Agency - Transfers the Minority Business Development Agency of the Department of Commerce to the Small Business Administration.

Part B: Economic Development Administration - Transfers the Economic Development Administration of the Department of Commerce to the Department of Agriculture.

Title VI: Transitional, Savings, and Conforming Provisions - Provides for transfers of other functions of the Secretary of Commerce which are not dealt with in earlier titles. Sets forth transitional, savings, and conforming provisions relating to changes made by this Act.

Terminates the Department of Commerce.

Title VII: Miscellaneous - Sets forth the effective dates for provisions of this Act. Provides for interim appointment of certain officers. Authorizes appropriations.