She wants Obama to reinterpret existing law through executive action:

Citing the Gun Control Act of 1968, Feinstein states, “In recent years… importers of firearms have taken advantage of ATF’s interpretation of the ‘sporting purposes’ test to evade the import ban.”

The phrase contained in The Gun Control Act of 1968 Feinstein is referencing prohibits the importation of firearms that are not “generally recognized as particularly suitable for or readily adaptable to sporting purposes.” She claims that in recent years firearms importers have taken advantage of ATF’s interpretation of “sporting purposes” to circumvent the ban.

More at the link, including her letter to the President.