Safeguarding United States Satellite Leadership and Security Act of 2012 - Authorizes the President to determine the appropriate export controls of satellites and related items and transfer them, based on national security and foreign policy objectives, from the jurisdiction of the International Traffic in Arms Regulations to the Export Administration Regulations.
Prohibits the transfer, directly or indirectly, of satellites or related items to, or the launch of such items in, the People's Republic of China (PRC).
Prohibits the transfer, directly or indirectly, of satellites or related items to: (1) North Korea, Cuba, Iran, Sudan, Syria, or any country designated by the Secretary of State as supporting international terrorism; or (2) any entity or person in or acting for or on behalf of such country, or as part of a launch vehicle owned or operated by the government of that country.