09/24/2021 | Press release | Distributed by Public on 09/24/2021 12:16
The Commerce Department's Bureau of Industry and Security (BIS) has initiated an investigation under Section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. § 1862), to determine the effects on U.S. national security from imports of Neodymium-iron-boron (NdFeB) permanent magnets. Interested parties are invited to submit written comments, data, analyses, or other information to BIS by November 12, 2021. This is the first Section 232 investigation initiated under Secretary Raimondo's leadership, and is consistent with a recommendation by the White House in the Biden-Harris Administration's 100-day supply chain reviews to evaluate whether to initiate this investigation.
Critical national security systems rely on NdFeB permanent magnets, including fighter aircraft and missile guidance systems. In addition, NdFeB permanent magnets are essential components of critical infrastructure, including electric vehicles and wind turbines. The magnets are also used in computer hard drives, audio equipment, and MRI devices.
If the Secretary finds that NdFeB permanent magnets are being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security, the Secretary shall advise the President in her report on the findings of the investigation. By law, the Secretary of Commerce has 270 days from initiation, until June 18, 2022, to present the Department's findings and recommendations to the President.
U.S. Secretary of Commerce Gina M. Raimondo released the following statement: "The Department of Commerce is committed to securing our supply chains to protect our national security, economic security, and technological leadership. Consistent with President Biden's directive to strengthen our supply chains and encourage investments to shore up our domestic production, the Department initiated a Section 232 investigation on imports of NdFeB permanent magnets to determine whether U.S. reliance on imports for this critical product is a threat to our national security."
For more information, visit www.bis.doc.gov.