Unfair Foreign Competition Act of 1982

Unfair Foreign Competition Act of 1982 - Amends the Unfair Competition Act of 1916 to prohibit the importation or sale of articles from a foreign country in the United States at a price below their foreign market value or constructed value if the reasonably foreseeable effect of such importation or sale is: (1) material injury to U.S. labor or industry; or (2) prevention of the establishment, modernization, or expansion of a U.S. industry. (Currently, such importation or sale is prohibited if the person importing or selling intends to cause such injury or prevention or of restraining or monopolizing U.S. trade of such articles.) Increases from $5,000 to $1,000,000 the maximum fine for violating such prohibition.

Authorizes a U.S. district court with jurisdiction over a suit by a person injured by such a violation to enjoin temporarily or permanently the sale or importation of an article if: (1) the article has been sold or imported in violation of such Act; (2) the court determines that there is reason to believe that the sale or importation of such article violates such Act; or (3) the defendant fails to comply with any discovery order or other court order. Allows the court to subpoena any parties whether or not they reside in the court's district. Requires that any such suit be expedited in every way possible.

Requires that the foreign market or constructed value of an article include the amount of any governmental or other subsidy provided to ther manufacturer or producer of such article.

Establishes a four-year statute of limitations on suits for violations of such Act.

Expresses the sense of Congress that the provisions of this Act are consistent with the General Agreement on Tariffs and Trade.