Federal Program Improvement Act of 1992

Amends the Tariff Act of 1930 to authorize the administering authority to include within the scope of an antidumping or countervailing duty order imported parts or components that constitute certain merchandise sold in the United States and subject to such order, provided: (1) such merchandise is the same class or kind as any merchandise subject to an antidumping duty order issued on May 9, 1980, or August 28, 1991; (2) it is completed or assembled in the United States (or in a foreign country before importation into the United States) from parts or components produced in the foreign country to which the relevant order applies or supplied directly or indirectly by an exporter or producer covered by the order, or from parts or components from suppliers that have historically supplied the producer or any other exporter or producer covered by the order, or from any party related to the exporter, producer, or historical supplier, whether such parts or components are supplied from the foreign country or any third country (or countries); (3) action is appropriate to prevent evasion of such order; and (4) the difference between the value of such merchandise sold in the United States and the value of the imported parts or components is small.

Specifies factors to be considered in the determination of whether to take such action.

Declares that this Act shall have no force or effect if the petitioner in a downstream product monitoring investigation ceases production or final assembly of the pertinent products in the United States or shifts the sourcing of major components to a foreign country.