Foreign Agents Compulsory Ethics in Trade Act of 2007 - Amends the federal criminal code to impose: (1) a permanent restriction (currently, one year) on certain officers and employees of the federal government who have terminated their service or employment from advising or representing for compensation foreign governments or political parties in matters in which the United States is a party or has a direct and substantial interest; and (2) a five-year restriction on such officers and employees from similarly advising or representing foreign individuals, corporations, or other business entities.