Motorcycle Safety Act of 1987 - Amends the National Traffic and Motor Vehicle Safety Act of 1966 to direct the Secretary of Transportation to initiate and complete a rulemaking to establish a Federal motor vehicle safety standard applicable to certain rapid acceleration motorcycles. Prescribes criteria for such rulemaking.

Directs the Secretary of Commerce to report to the Congress the results of a study determining to what extent foreign countries impose safety-related restrictions upon their manufacturers who market motorcycles in the United States.