First, read the details...
As they are reporting it, the CMP (which is a govt function, despite being embarrassing to the left) would be exempt. They specifically say museums, govt., and certain other groups...
What this action would affect is the importation of US made military weapons from other countries, by
private individuals or groups.
And what could those arms possibly be? In theory, anything in the US inventory of small arms. Machine guns and submachine guns (no distinction under US law) would be out, for obvious reasons predating the latest administrations executive actions by decades.
So that leaves rifles, handguns, and possibly shotguns. I think the numbers of US Military bolt action rifles in foreign nations is rather small. When those rifles (1903 Springfield and 1917 Enfield) became surplus to our military's needs, they were mostly sold to civilians in the US, as our allies didn't want them for their militaries either.
What this leaves is those remaining M1 Garands and M1 carbines still in the hands of our allies or former allies, and available for purchase from those nations. I think the numbers of pistols and shotguns able to come back are too small to worry about, as those numbers never were that large to start with, and I think that most of those, when released for sale by the owner nations during the last half century or so, have already "come home" so to speak, or never will.
This new executive action, if enforced as currently described (and there no guarantee of that) wouldn't stop the CMP from importing Garands. But it would stop "Millenium Imports Inc." from doing so. Because allowing that would risk putting "military grade guns on our streets"....
And, oh look, they found another "loophole" in our gun laws, the fact that full auto weapons can be registered to corporations and trusts. And they sieze on that, implying that a criminal could avoid a background check by being a member of the trust or officer of the corporation, and thereby have access to a machinegun.
Personally, I find the logic horridly flawed, and the proposed scenario laughable.
The idea that someone with criminal intent is going to become a member of a trust or officer of a corporation so they can have "background check free" access to a legally registered machinegun? Really? Why would they do that?
Spend that much time and effort? When a handful of $100 bills and the right underworld connections can get you a machinegun completely off the govt's books (and totally illegal)? And one that nobody (other than the criminal you got it from) knows you have?
The administrators of the trust or company that has legal registered machineguns are going to know EVERYONE on the list who can access the weapon(s). If you did something criminal with one of those guns, you are instantly at or near the top of a very short suspect list. Not exactly a good way to avoid suspicion....
So, the administration, who just cannot leave well enough alone has found an area where they can act unilaterally, and justifies it with the most contrived, unrealistic possibilities. Sounds like business as usual in DC.....