Deterrence of State-Sponsored Terrorism Act of 1987

Deterrence of State-Sponsored Terrorism Act of 1987 - Requires the Secretary of State to prepare and transmit annually to the Congress a report setting forth a list of countries repeatedly providing support for acts of international terrorism (terrorist list).

Requires that certain sanctions be imposed upon the countries named in such terrorist list within 30 calendar days unless the President transmits a written determination to the Congress that the national interests of the United States or humanitarian interests dictate otherwise. Provides that the Congress may disapprove of the President's determination by enactment of a joint resolution within 30 legislative days. Specifies that such sanctions shall go into effect as of the date of enactment of such joint resolution. Authorizes the President to remove such sanctions upon a determination that it is in the national interest or in humanitarian interests to do so unless the Congress passes a joint resolution disapproving of such determination. Allows the President to remove such sanctions either partially or completely upon a certification to certain committees of the Congress that an emergency situation exists.

Specifies that such sanctions shall consist of: (1) termination of all U.S. assistance to such country; (2) termination of the importation of technology and goods which are produced, grown, or manufactured in such country or the imposition of additional duties on such imports; (3) denial to all products of such country of duty-free tariff treatment under the Generalized System of Preferences; (4) termination of any air or sea transportation agreement in effect between the United States and such country; (5) U.S. opposition to any loan or other use of funds for that country by international financial institutions; (6) a presidential prohibition on the transfer out of the United States of any property or credit in which such country or a national has a financial interest; and (7) the denial of any income tax credits for the amount of any income, war profits, and excess profits taxes paid or accrued to such country by taxpayers of the United States.

Expresses the sense of the Congress that in any case in which such a sanction is imposed against a country, the President should try to obtain the imposition of similar sanctions by U.S. allies.

Specifies the procedure for congressional review of presidential determinations required by this Act for the consideration and enactment of joint resolutions of disapproval of such determinations.