Rare Earth Magnet Market Revitalization Act

This bill would ban imports of certain rare earth magnets, the materials used to make them, and products containing them when they come from covered nations, starting one year after it becomes law. The Secretary of Commerce would waive the ban case by case when an importer certifies the items cannot practicably be sourced elsewhere, unless the Secretary finds other sources are available, and could also grant waivers in the national interest. Waivers would be listed publicly online. The Secretary could also limit exports of high-value electronic waste containing these magnets when it could be recycled in the U.S., and could offer offtake agreements or price guarantees to companies that have invested in magnet production outside covered nations.

Full text and official record on Congress.gov

Sponsors

• Jill N. Tokuda Democrat sponsor
• 1 cosponsors