Large Electrical Equipment Trade and Access Act of 1986

Large Electrical Equipment Trade and Access Act of 1986 - Requires the President, within three months of enactment of this Act, to initiate market access negotiations with the government of each foreign country in which large electrical equipment is manufactured. Exempts a country from such negotiation requirement if: (1) the President determines that there is no credible evidence that U.S. manufacturers of large electrical equipment have been denied in that country market opportunities which are substantially equivalent to the market opportunities available in the United States for such equipment from that country; and (2) a sale of one or more kinds of certain large U.S. manufactured electrical equipment was made in such country during the three years preceding enactment of this Act. Defines large electrical equipment as large transformers, generators, and steam turbines.

Declares that the goal of such negotiations is the attainment of fully competitive market opportunities for U.S. manufacturers of large electrical equipment.

Requires the President to report to the Congress on such negotiations every two years.

Amends the Tariff Act of 1930 to provide that in antidumping actions relating to such electrical equipment the requirement of showing that sales at less than fair market value occurred is satisfied by showing that sales have been made in the United States of foreign manufactured large electrical equipment. Sets forth the method of determining the foreign market value of such equipment.