Rare Earth Magnet Market Revitalization Act
Sponsored By: Representative Tokuda, Jill N. [D-HI-2]
Introduced
Summary
This bill would create a framework to restrict imports from certain foreign "covered nations" and to strengthen U.S. rare earth magnet supply chains and promote domestic production. It sets limits on importing rare earth magnets and components, builds a waiver and reporting system, and authorizes support for domestic manufacturing and recycling.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
New limits on rare-earth magnet imports
If enacted, the bill would bar most imports into the United States of rare earth components, rare earth magnets, and articles that incorporate those magnets when they originate from covered nations. The import restriction would apply to articles imported after the date one year after enactment. Importers could seek case-by-case waivers if magnets cannot be practicably sourced from non-covered nations or if an article cannot be assembled without such magnets; the Commerce Secretary could override nonavailability waivers or grant waivers in the national interest. The Commerce Department would have to publish each waiver recipient, the amount and type of magnets imported under the waiver, and an annual aggregate report.
Federal support for magnet makers
If enacted, the bill would authorize the Commerce Secretary, subject to available appropriations and implementing regulations, to provide federal financial assistance such as offtake agreements or price guarantees to private firms that invested in rare earth magnet manufacturing, processing, or recycling facilities in non-covered nations. The assistance would be limited to nongovernmental entities the Secretary selects. The Department of Commerce would have to post the recipient and the award terms on its website within 30 days of any award.
Limits on exporting magnet e-waste
If enacted, the bill would authorize the Commerce Secretary to write rules that prohibit exporting high-value electronic waste that contains rare earth magnets when the Secretary determines the waste can be recycled or repurposed in the United States to extract those magnets. This authority would take effect on enactment. The change would mainly affect exporters of e-waste, waste management firms, and domestic recyclers and could shift some processing to U.S. facilities.
Sponsors & CoSponsors
Sponsor
Tokuda, Jill N. [D-HI-2]
HI • D
Cosponsors
Rep. Dunn, Neal P. [R-FL-2]
FL • R
Sponsored 2/12/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov