Fair Trade and Economic Justice Act

Fair Trade and Economic Justice Act - Title I: Declares U.S. policies, including to promote an open and fair international trading system and to treat as an unfair practice competitive and advantages derived from denial of worker rights.

Title II: Negotiating Objectives Regarding the General Agreement on Tariffs and Trade and Enforcement of Internationally Recognized Worker Rights - Amends the Trade Act of 1974 to include among the actions to be taken on trade agreements the enhancement of the General Agreement on Tariffs and Trade (GATT) through: (1) the adoption of an additional GATT article declaring that the exploitation of workers is an unjustifiable means for a country to gain a competitive trade advantage; (2) the amendment of the GATT to affirm such principle; or (3) the adoption and implementation of a code or internationally recognized worker rights.

Prohibits the President from entering into any negotiation with respect to any trade agreement unless the President first reports to specified congressional committees on the actions that will be taken to protect workers' rights and to redress the trade disadvantage of countries that rely primarily on direct taxes for revenue needs. Prohibits any trade agreement entered into after enactment of this Act from taking effect with respect to the United States unless the President consults with specified congressional committees on the progress being made to protect workers' rights.

Title III: Relief from Unfair Trade Practices - Amends the Tariff Act of 1930 to establish in the International Trade Commission (ITC) the Office of Unfair Trade Investigations. Sets forth the functions of such Office, including: (1) carrying out the functions assigned on October 1, 1985, to the ITC's Office of Unfair Import Investigations; and (2) monitoring the operation of U.S. and foreign trade laws, policies, and practices. Requires the Office to take certain actions if a foreign country or instrumentality is suspected of: (1) subsidizing or dumping exports to the United States; (2) engaging in unfair trading practices; or (3) violating U.S. trade rights under trade agreements. Sets forth factors to be considered by the Office. Authorizes the U.S. Court of International Trade to review an Office determination of whether a country's foreign trade policies deny internationally recognized worker rights.

Prohibits the Office from taking action in certain cases. Requires the ITC to ensure that the Office has sufficient manpower and resources to carry out its functions.

Transfers from the President to the U.S. Trade Representative (USTR) certain functions relating to enforcement of U.S. trade rights under trade agreements and response to certain foreign trade practices.

Requires the USTR, if notified that a foreign act, policy, or practice is a cause of injury or threat of injury to a domestic industry or is injurious industrial targeting, to decide which of the following actions to take, in addition to actions taken under the GATT: (1) suspension, withdrawal, or prevention of application of trade benefits; (2) imposition of import duties or restrictions on the production and services of such foreign entity; (3) negotiation of orderly marketing agreements; (4) development of actions to restore or improve the international competitiveness of the injured or threatened industry; and/or (5) the denial of most favored nation treatment to products of the foreign entity. Requires the USTR, upon receiving such notification, to begin negotiations on an agreement to eliminate the injurious act, practice, or policy.

Authorizes the USTR, subject to presidential disapproval, to: (1) restrict the terms and conditions of certain service sector access authorizations; or (2) deny the issuance of such authorizations.