Small Business Trade Remedy Act of 1986

Small Business Trade Remedy Act of 1986 - Amends the Tariff Act of 1930 to require the Trade Remedy Assistance Office to establish a program which pays the reasonable expenses incurred by eligible small businesses in connection with any proceeding that seeks relief under the countervailing and antidumping duty provisions of the Act. Prohibits the payment of such expenses with respect to any proceeding which the Office determines to be frivolous. Requires the Office to submit an annual report to the Congress.

Establishes in the Treasury the Small Business Trade Remedy Trust Fund. Requires the Secretary of the Treasury to transfer to the Trust Fund such amounts out of the general fund of the Treasury that are attributable to all countervailing and antidumping duties imposed under the Act. Requires the Secretary, as trustee, to report annually to the Congress on the financial condition of the Fund. Authorizes the appropriation of amounts out of the Trust Fund which are necessary to carry out such program. Requires the International Trade Commission to issue regulations to implement this Act.