Fair Trade and Export Expansion Act of 1991

Fair Trade and Export Expansion Act of 1991 - Amends the Trade Act of 1974 to require the United States Trade Representative (USTR), through calendar year 1995, to identify U.S. trade liberalization priorities. Requires the USTR, after he or she has identified a country as a priority foreign country (a country whose trade practices create major barriers to U.S. exports), to initiate an investigation with respect to the priority practices of such country if: (1) the amount of the trade deficit between the United States and such country exceeds 15 percent of the amount of the total U.S. trade deficit for a given year; (2) the practices of such country have been identified; and (3) such country has not entered into a free trade agreement with the United States.

Requires the USTR, after identifying a practice as a priority practice (one which acts as a barrier to U.S. exports), to initiate an investigation with respect to it if: (1) such practice has been identified; and (2) is associated with a sectoral deficit (as listed in the National Trade Estimates) of five percent or more of the balance of trade between the United States and the foreign country conducting such practice.

Requires the USTR, after a practice has been identified as a priority practice and a foreign country has been identified as a foreign priority country, to initiate an investigation with respect to such practice or country, if a joint resolution is enacted by the Congress.

Requires the USTR, if he or she determines that a priority practice or a priority practice with respect to a priority foreign country constitutes an act, policy, or practice that is unreasonable or discriminatory and burdens or restricts U.S. commerce, to take appropriate action to eliminate such act, policy, or practice.

Requires the USTR to explain why if it is not feasible to estimate the value of additional U.S. goods and services and U.S. foreign investment that would have been exported to, or invested in, a foreign country if an unfair practice did not exist.