COCOM Reform Act of 1987

COCOM Reform Act of 1987 - Requires the President to annually review the extent to which each Coordinating Committee (COCOM) participating country is complying with COCOM prohibitions against the transfer of sensitive technology to communist countries. Requires the President to designate a participating country as a noncomplying country if he determines such country is not satisfactorily complying with such prohibition.

Requires the President to determine whether a noncomplying country has taken appropriate action to bring such country into compliance with such prohibition. Directs the President to terminate the noncompliance designation if the determination is affirmative.

Prohibits the importation of products from a participating country that has been designated as a noncomplying country for a specified period. Authorizes the President to require such noncomplying country, as a condition of terminating such import restrictions, to provide restitution to the United States for damage incurred to U.S. interests as a result of violations of the COCOM technology transfer prohibitions.