Restoring America's Competitiveness Act of 2006

Restoring America's Competitiveness Act of 2006 - Establishes the National Commission on International Economic Policy.

Amends the Bipartisan Trade Promotion Authority Act of 2002 to require the International Trade Commission (ITC), before initiating negotiations for trade agreements regarding tariff and nontariff barriers, to report to Congress on certain effects such agreements may have on U.S. industries.

Declares that Congress reaffirms the negotiating objective relating to border taxes set forth in the Trade Act of 2002.

Sets forth conditions under which the Secretary of Commerce shall, as of January 1, 2008, treat as a countervailable subsidy the full or partial exemption, remission, or deferral specifically related to exports of indirect taxes paid on a product.

Establishes the Congressional Advisory Commission on World Trade Organization (WTO) Dispute Settlement.

Allows, under specified conditions, certain private U.S. persons supportive of the government's position before a dispute settlement panel or Appellate Body of the WTO to participate in consultations and panel proceedings.

Amends the Trade Act of 1974 to modify the trade dispute functions of the U.S. Trade Representative (USTR).

Amends the Tariff Act of 1930 to extend the meaning of countervailable subsidy to include exchange-rate manipulation.

Requires the ITC to study how the People's Republic of China (PRC) uses government intervention to promote investment, employment, and exports.

Amends the Trade Act of 1930 with respect to U.S. unfair trade laws and creation of an Assistant Attorney General for Trade Law Enforcement.

Amend the Trade Act of 1974 to modify: (1) the test for positive adjustments to import competition; and (2) standards for the USTR's recommendation to the President on findings of market disruption by Chinese exports.

Requires the USTR to report to Congress on how agreements resulting from negotiations on the Doha Development Agenda of the WTO will implement the provisions of the Agreement on Antidumping, the Agreement of Subsidies and Countervailing Measures, and the Agreement on Safeguards, as such Agreements were approved by Congress under the Uruguay Round Agreements Act.

Applies the amendments made by this Act to goods from Canada and Mexico.