Maritime Agreements Act of 1986

Maritime Agreements Act of 1985 - Authorizes the President to negotiate a maritime agreement with a U.S. trading partner whenever: (1) an opportunity exists to promote free, fair, and open competition in international ocean shipping services; (2) it is necessary to protect national security interests; (3) a trading partner imposes restrictive trade barriers or unfair trade practices on the U.S. ocean shipping service industry; or (4) it furthers certain other purposes.

Directs the President to negotiate a maritime agreement: (1) within two years, with a trading partner whose waterborne trade with the United States equals or exceeds one percent of the total U.S. foreign waterborne trade and where less than one-third of that trade is carried by U.S. documented vessels; or (2) with a lesser trading partner whenever that trading partner requests a maritime agreement.

Sets forth certain essential provisions that must be contained in such agreement.

Prohibits the United States from restricting a U.S. documented vessel from participating in the U.S. share of a trade that is the subject of a maritime agreement as long as the vessel complies with other U.S. laws.

Provides sanctions if a trading partner whose waterborne trade equals or exceeds one percent of the total U.S. waterborne trade refuses to accept the essential conditions that must be contained in a maritime agreement.