Export Promotion Reform Act - Amends the Export Enhancement Act of 1988 to revise the duties of the Trade Promotion Coordinating Committee (TPCC).
Requires the TPCC to review the proposed annual budget of each federal agency, before it is submitted to the Office of Management and Budget (OMB) and the President, when (as required by current law) assessing the appropriate levels and allocation of resources among such agencies in support of export promotion and export financing.
Requires the governmentwide strategic plan for federal trade promotion efforts, in conducting the review of current federal programs designed to promote the sale of U.S. exports and developing a plan to bring such activities into line with specified priorities, to take into account recommendations from a representative number of U.S. exporters, particularly small business and medium-sized businesses, and representatives of U.S. workers.
Directs the President to issue an executive order and necessary regulations to provide the TPCC chairperson with the authority to ensure that the TPCC carries out each of its duties and develops and implements the strategic plan.
Requires the Secretary of Commerce to: (1) conduct at least once every five years a global assessment of overseas markets to determine those with the greatest potential for increasing U.S. exports, and (2) deploy U.S. and Foreign Commercial Service personnel and other resources on the basis of that assessment.
Amends the Foreign Service Act of 1980 to require each chief of mission to a foreign country to develop an approved plan for effective diplomacy to remove or reduce obstacles to exports of U.S. goods and services.
Requires the Inspector General of the Department of State and the Foreign Service to evaluate the commercial effectiveness of diplomacy to promote exports of U.S. goods and services.