ATF, can still, at their discretion deny import of any semiautomatic rifle, or any shotgun they don't feel is suited to "sporting purposes." The Gun Control Act of 1968 allows them to do this.
This is why all the "assault rifles" on the shelves today, are either made completely in America, imported as parts and then assembled such that they only have 10 or less foreign parts, or were imported before 1989.
Here is the law regarding the 10 or fewer parts: MilSurpStuff.com 922(r) Compliance Info
This is the news article regarding the import ban http://www.nytimes.com/1989/07/08/us...permanent.html (This was in 1989 and had absolutely no relation to the AWB of 1994, this 1989 ban is still in effect today)
This is why you don't see brand new "assault rifles" sitting on store shelves hot off the factory lines in Germany, Switzerland, Austria etc.