US proposes magnet tariffs, other supply chain reforms

The United States government has published a sweeping review of US supply chains, proposing measures to increase domestic production of a number of key minerals and products. These measures include a proposed tariff on neodymium magnet imports.

In February 2021, recently inaugurated US President Joe Biden indicated that there would be a government review of the resilience of critical minerals supply chains in the country. The latest set of findings covers four main sectors: semiconductors, batteries, critical minerals and pharmaceuticals. “With demand for clean energy technology increasing over the short and medium terms, an increased supply of critical minerals and materials will be necessary to meet national and global climate goals,” the office of the US president announced on Tuesday June 8. “China accounts for an outsized share of the world’s refining capacity, meaning that even if the...

Published

William Clarke

June 08, 2021

13:47 GMT

London