International Fair Competition Act of 1992

International Fair Competition Act of 1992 - Makes it unlawful for any person to export an article from a foreign country into, or cause an article to be sold within, the United States at a price that is less than the average total cost of the article, if: (1) the effect of the importation or sale of such articles may be to destroy or injure commerce, prevent the establishment of a line of commerce, or substantially lessen competition or tending to create a monopoly in any line of commerce in any section of the country; and (2) the foreign country's market in the article lacks effective price competition among competitors or is substantially closed to effective international competition.

Repeals a provision stating that any person who violates, or conspires to violate, such prohibition is guilty of a misdemeanor, punishable by specified penalties.