Omnibus Trade and Competitiveness Act of 1987

[AI summary unavailable — showing source text] Trade and International Economic Policy Reform Act of 1987 - Title I: Trade Law Amendments - Subtitle A: Enforcement of United States Rights Under Trade Agreements and Response to Certain Foreign Trade Practices - Amends the Trade Act of 1974 to require presidential action if the President or the U.S. Trade Representative (USTR) determines that U.S. rights under any trade agreement are being denied or a foreign country's act, policy, or practice: (1) is inconsistent with, or denies benefits to the United States under, any trade agreement; or (2) is unjustifiable and burdens or restricts U.S. commerce. Requires the President, unless the contracting parties to the General Agreement on Tariffs and Trade (GATT) make a specified finding or the President makes a specified finding, to: (1) suspend or remove certain benefits of the trade agreement, impose restrictions on the foreign country involved, or withdraw benefits under the Generalized System of Preferences; or (2) restrict imports of services; or (3) both (1) and (2); and (4) take all other appropriate and feasible actions to enforce such rights or end such act, policy, or practice. Requires such action to be devised to affect good…