Small Business Bilateral Free Trade Act of 1987

[AI summary unavailable — showing source text] Small Business Bilateral Free Trade Act of 1987 - Amends the Trade Act of 1974 to authorize the President to enter into a trade agreement with Canada which provides more equitable tariff treatment for United States furniture, recreational marine craft, and printed products. Requires such agreement to provide for eliminating: (1) differing tariff levels on trade between the United States and Canada involving furniture, recreational marine craft, and printed products; and (2) any Canadian nontariff barrier to United States furniture, recreational marine craft, and printed products. Requires the President, when negotiating an agreement with Canada, to consider for furniture, recreational marine craft, and printed products: (1) trade distortions resulting from inequitable tariff treatment by Canada; (2) adverse employment impacts in the United States; and (3) the effect of the overvalued dollar and persistently high interest rates in the United States on imports and exports of such products. Provides that if a trade agreement is not reached before September 6, 1988, the rate of duty on each Canadian furniture, recreational marine craft, and printed product entering the United States be…