Section 232 Investigation Launched on U.S. Imports of Rare Earth Magnets, Biden’s First Under Supply Chain Reviews
Highlights
The U.S. Secretary of Commerce recently initiated a Section 232 investigation on imports of rare earth permanent magnets
Rare earth magnets play a key role for national security systems, critical infrastructure, and other industrial commodities
U.S. importers and other interested parties may submit written comments pertinent to the investigation no later than Nov. 12, 2021
U.S. Secretary of Commerce Gina M. Raimondo recently initiated a Section 232 investigation on imports of neodymium-iron-boron (NdFeB) permanent magnets (more commonly referred to as rare earth magnets, neodymium magnets or neo magnets). Section 232 of the Trade Expansion Act of 1962 is a U.S. trade law that authorizes the president to impose import restrictions based on national security concerns.
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