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Biden not to restrict imports of neodymium magnets from China

The White House said on September 21, 2022 that President Biden had decided not to restrict the import of neodymium magnets.
Rare earth neodymium magnets are the most commonly used rare earth magnets nowadays. Neodymium magnets can be used in commercial fields such as computer hard disks, smart phones and nuclear magnetic resonance machines, as well as military fields such as fighter planes and missile guidance systems. Last year, 75% of the sintered neodymium, iron and boron imported by the United States came from China.
Biden's decision is based on the results of a 270-day survey conducted by the United States Department of Commerce. The survey found that the dependence of the United States on imported powerful magnets is a threat to the national security of the United States, and recommended a series of measures to increase domestic production. The suggestions of the US Department of Commerce include: investing in the key links of the magnet supply chain; Cooperate with allies and partners on supply chain flexibility; We will support the cultivation of skilled labor force for the production of neodymium magnets in the United States. According to a report from the Paulson Institute last year, electric vehicles and wind turbines alone will need a large number of high-performance neodymium magnets in the next 5-10 years. This means that other use areas may face supply bottlenecks and price increases.

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