Trade Competitiveness Act of 2006 - Amends the Trade Act of 1974 to require the United States Trade Representative (USTR) to identify and report to specified congressional committees on: (1) U.S. trade enforcement priorities; (2) enforcement actions taken during the previous year and their impact in addressing foreign trade barriers; and (3) priority foreign country trade practices on which the USTR will focus its enforcement efforts.
Requires the USTR to: (1) consult with such congressional committees with respect to priorities, actions, and practices identified; and (2) report in detail the reasons for failing to identify a priority foreign country trade practice.
Requires the USTR to seek satisfactory resolution of any identified priority foreign country trade practice (including elimination or compensatory trade benefits) with the country concerned under the auspices of the World Trade Organization (WTO), pursuant to a bilateral or regional trade agreement to which the United States is a party, or by any other means.
Establishes in the Office of the USTR the position of Chief Trade Enforcement Officer.
Directs the USTR to establish an interagency Trade Enforcement Working Group.
Expresses the sense of Congress regarding exchange rate intervention, International Monetary Fund (IMF) reform, and U.S. policy to prevent the loss of federal and state sovereignty in the negotiation, implementation, and enforcement of trade agreements.
Amends the Trade Act of 1974 to require the President to seek information and advice from the private and nonfederal governmental sectors with respect to prevention of the loss of federal and state sovereignty during trade agreement negotiation, implementation, and enforcement.