National Highway Traffic Safety Administration
The National Highway Traffic Safety Administration, or NHTSA, has jurisdiction to regulate the importation of motor vehicles. They reference the definition of a motorcycle in U.S. Code 49 U.S.C. 30102. This definition outlines a vehicle produced "primarily for use on public streets, roads and highways." The NHTSA clearly regulates street-going motorcycles.
NHTSA and Motorcycles
The NHTSA uses regulation 49 CFR 571.3 as the definition of a motorcycle. The NHTSA expressly states that they do not make a distinction between "pocket bikes," "mopeds," and other such motorcycle-like vehicles. The criteria they use is whether or not a vehicle has 5-brake horsepower or more -- a measure of the engine's power. Small engines that power bicycles are capable of producing 5-brake horsepower, but most produce less. Compare a bicycle engine to a chainsaw or line trimmer engine: most produce under 5-brake horsepower. A power-assist bicycle that is not considered a motorcycle is considered a bicycle.
FMVSS
The FMVSS is the Federal Motor Safety Standards and Regulations. To import a bicycle engine, you will have to comply with the FMVSS, which means you must declare the nature of your engine as it relates to NHTSA regulations, which include considerations of other federal regulations such as emissions. If you are importing an engine to power a bicycle on public roads, you should declare this with the NHTSA. Otherwise, it is not subject to general motor vehicle import rules -- though it may be subject to others.
FMVSS and Motorcycles
If you are importing an engine with less than 5-brake horsepower that is not for powering bicycles on public roads, than it will not be a part of a vehicle defined by the NHTSA as either a motor vehicle or a motorcycle. If it produces more horsepower, you should declare this with the NHTSA. Particularly if you're planning on reselling these motors, you should be very clear with the NHTSA so you conduct your business with their approval and their expertise in other regulations relating to the import of gas engines. Otherwise, they may stop you after you've invested considerable time and effort. With their blessing -- which should be granted in most cases if you make your declarations properly -- you can import bicycle engines.