Not exactly. The "import ban" banned certain semi auto firearms from import, way back around 89. Around a year or so later B-West was making "US AK's" by assembling Chinese parts kits onto US made receivers. Enter the 922(r) regs to require enough US parts that it was no longer cost effective to do so. Over the next decade enough small businesses started making US parts that it was once again practical to crank out "US made" firearms from kits. The purpose of the "10 parts rule" was being circumvented.
Along about 2000 or so a new rule was proposed to ban the import of the frames and bbls for these firearms, which existing law did give them the power to regulate. For some reason it sneaked through the federal register publication and public comment period and became law. I suspect the reason for this is the .Gov guys assured importers there would be a workaround, which they got in the form of the "for repair or replacement purposes only" restriction on the importers. After 5 years or so of this exemption (which had no basis in the law) ATF "suddenly realized" they had been illegally approving kits since the new reg went into effect and stopped allowing them.
Here we are today with no bbls or receivers imported. Eventually someone will see money to be made and provide product. Unfortunately that will price a lot of people out of the hobby. I own several guns I built from parts kits, many in the $100-200 range. When the cost rises to $1000 per build I won't have very many of those.