EU, Japan Don’t Want US Tariffs On NdFeB Rare Earth Magnets



Mary Hui | Quartz

In September, the US commerce department launched an investigation into the national security impact of imports of neodymium-iron-boron (NdFeB) permanent magnets, the most widely manufactured rare earth magnet.

Governments, businesses, and experts submitted public comments to weigh in on whether the US should slap tariffs on imports of NdFeB magnets as a way of counteracting the security risks of being overly reliant on imports from foreign countries, especially China.

Under Section 232 of the Trade Expansion Act, the president can impose tariffs on products that the commerce department deems to be imported “in such quantities or under such circumstances as to threaten to impair the national security.”

To read the full article by Quartz, please click here.