Export Trading Company Act of 1981

Export Trading Company Act of 1981 - Establishes within the Department of Commerce an office to promote the formation of export trade associations and export trading companies.

Title I: Export Trading Companies -Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances.

Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency.

Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies.

Authorizes appropriations for initial investments and operating expenses for each of fiscal years 1982, 1983, 1984, and 1985.

Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters, to be secured by accounts receivable or inventories, when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports.

Title II: Antitrust Provisions - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws.

Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary of Commerce in issuing such certificates.

Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the Federal Trade Commission (FTC) to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary.

Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States.

Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations.

Applies, with a specified exception, the antitrust laws in effect before enactment of this Act to any existing export trade association and its trading activities. Provides for automatic certification of existing associations.

Title III: Trade Barriers and Disincentives Relating to United States Exports - Expresses the sense of Congress that: (1) the appropriate Federal agencies should implement specified agreements to reduce trade barriers and should monitor foreign government compliance with, and enforce U.S. rights under, such agreements; (2) greater consideration should be given to the foreign trade implications of U.S. economic policies and programs; and (3) the President should pursue negotiations to reduce remaining barriers to international trade or to limit the imposition of such barriers.

Directs the U.S. Trade Representative to maintain a comprehensive inventory of the barriers and disincentives maintained by foreign countries against U.S. exports of goods and services.

Amends the Trade Agreements Act of 1979 to direct the President to submit to Congress studies concerning: (1) the recent changes in, and factors bearing on, the competitive position in domestic and foreign markets of major U.S. export-oriented product sectors; and (2) the policies, practices, and programs that will be required to maintain and to strengthen the competitive position of these sectors in world markets.