You can't import video from Pinnacle Studio, per se.
But, if the video clips themselves are stored in the proper format, you should be able to edit them in either program.
What model of camcorder is your video coming from and what format and resolution is it?
I also assume that by Premiere you mean Premiere Elements. Please be sure to indicate which version of Premiere Elements you're using and what operating system you're working on.
What are the video details?
Codec & Format information, with 2 links inside to read
-read both links in reply #1 http://forums.adobe.com/thread/1270588
Report back with the codec details of your file, use the programs below... A screen shot works well to SHOW people what you are doing