PRIA Logo™
HR7563119th CongressWALLET

Rare Earth Magnet Market Revitalization Act

Sponsored By: Representative Tokuda, Jill N. [D-HI-2]

Introduced

Summary

This bill would push U.S. rare earth magnet supply chains toward a focus on domestic and allied sources by restricting imports from certain "covered nations" and backing U.S. and partner-country production.

Show full summary
  • Would restrict imports of specified rare earth magnets and components unless the Secretary of Commerce grants case-by-case waivers for nonavailability or national interest. Import limits would phase in after a one-year delay.
  • Would allow the Secretary of Commerce to limit or ban exports of high-value electronic waste that contains rare earth magnets when those magnets could be recycled domestically. This aims to preserve material for U.S. recycling and reuse.
  • Would authorize federal assistance like offtake agreements or price guarantees to private entities that build manufacturing, processing, or recycling facilities in non-covered partner nations, subject to appropriations and rules. Awards must be published within 30 days and the Secretary must report to Congress on implementation and recommend whether to expand limits to all critical minerals within three years.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Subsidies for rare-earth investors

If enacted, the bill would let the Commerce Department provide financial help to private businesses that invest in rare-earth facilities. Help would be limited to offtake agreements or price guarantees. Aid would only be available if Congress provides money and Commerce issues rules. The Department would publish each award’s recipient and the award terms on its website within 30 days.

New limits on rare-earth imports

If enacted, the bill would direct the President, through Commerce, to stop imports of certain rare-earth components and magnets from covered nations. The ban would also cover goods that incorporate those magnets. The restriction would apply to articles imported more than one year after enactment. Importers could seek case-by-case waivers by certifying nonavailability, but Commerce could deny waivers if practicable alternatives exist or grant waivers for national security. Commerce must publish waiver recipients, quantities, and types, and an annual aggregate waiver report. The bill defines covered nations by reference to 10 U.S.C. 4872 and lists the specific components and magnet types. Commerce must report to Congress on implementation and recommendations within three years.

Ban on exporting e-waste magnets

If enacted, the bill would let the Commerce Department ban exports of certain high-value electronic waste that contains rare-earth magnets. The ban would apply only when Commerce finds the waste could be recycled or repurposed in the United States to recover those magnets. The authority would be effective upon enactment. This could help U.S. recyclers get more material but could limit exporters and change market rules.

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
Back to Legislation