This bill aims to stop the import of specific rare earth magnets to protect U.S. manufacturing and supply chains. It encourages sourcing these materials domestically or from allied countries.
If you work in manufacturing, this bill could change where your materials come from and how much they cost.
Who this affects
Manufacturers · Companies relying on rare earth magnets
What changes is this bill making?
1This bill bans importing certain rare earth magnets from specific countries.
2The Secretary of Commerce can grant exceptions if magnets can't be sourced elsewhere.
3It also allows for regulations to stop exporting electronic waste with rare earth magnets.
4The government can provide financial help to companies making rare earth magnets in non-covered countries.
5A public list will track waivers granted for importing these magnets.
