[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7563 Introduced in House (IH)]
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119th CONGRESS
2d Session
H. R. 7563
To prohibit the importation of certain rare earth magnets from covered
nations, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
February 12, 2026
Ms. Tokuda (for herself and Mr. Dunn of Florida) introduced the
following bill; which was referred to the Committee on Foreign Affairs,
and in addition to the Committees on Ways and Means, and Energy and
Commerce, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To prohibit the importation of certain rare earth magnets from covered
nations, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Rare Earth Magnet Market
Revitalization Act''.
SEC. 2. FINDINGS; SENSE OF CONGRESS.
(a) Findings.--Congress finds the following:
(1) Price and market manipulation by the People's Republic
of China has reduced the incentive for private investment in
rare earth magnet processing, refining, and production in the
United States and partner countries.
(2) This has created unacceptable vulnerabilities to the
supply chains for commercial and military products that rely
upon rare earth magnets.
(b) Sense of Congress.--It is the sense of Congress that the
Secretary of Commerce should be empowered to ensure that United States-
based manufacturers acquire rare earth magnets from United States or
partner sources to the extent they are available.
SEC. 3. LIMITATION ON IMPORTATION OF RARE EARTH MAGNETS.
(a) In General.--The President, acting through the Secretary of
Commerce, shall take such steps as may be necessary to ensure that,
except as provided in subsection (b), no articles are imported into the
customs territory of the United States that--
(1) are rare earth components or rare earth magnets
originating from one or more covered nations; or
(2) incorporate rare earth magnets originating from one or
more covered nations.
(b) Exceptions.--
(1) Nonavailability.--
(A) In general.--Except as provided in subparagraph
(B), the Secretary shall waive the prohibition under
subsection (a) on a case-by-case basis upon
certification by the importer that--
(i) with respect to the importation of rare
earth components or rare earth magnets, such
articles cannot be practicably sourced from a
country that is not a covered nation; or
(ii) with respect to an article
incorporating rare earth magnets, such article
cannot be practicably assembled without the
incorporation of rare earth magnets originating
from one or more covered nations.
(B) Override.--The Secretary may elect not to waive
the prohibition despite a certification under
subparagraph (A) if the Secretary determines that
alternative practicable sourcing is available for the
relevant article or articles.
(2) National interest.--The Secretary may waive the
prohibition under subsection (a) on a case-by-case basis if the
Secretary determines that such waiver is in the national
interest.
(3) Publication.--The Secretary shall publish, on a
publicly available website of the Department of Commerce, a
list of each importer that has received a waiver under this
subsection, along with the amount and type of rare earth
magnets imported pursuant to such waiver. The Secretary shall
also publish to such website on an annual basis an aggregate
report describing the waivers granted during the preceding
year.
(c) Applicability.--The limitation under this section shall apply
with respect to articles imported into the customs territory of the
United States after the date that is 1 year after the date of the
enactment of this Act.
SEC. 4. LIMITATION ON EXPORTATION OF ELECTRONIC WASTE CONTAINING RARE
EARTH MAGNETS.
The Secretary of Commerce is authorized to promulgate such
regulations as may be necessary to prohibit the exportation of high-
value electronic waste that contains rare earth magnets to the extent
that the Secretary determines that such waste could be recycled or
repurposed in the United States to extract such rare earth magnets for
use in new products.
SEC. 5. AUTHORITY TO PROVIDE OFFTAKE AGREEMENTS OR PRICE GUARANTEES FOR
RARE EARTH MAGNETS.
(a) In General.--Subject to the availability of appropriations and
to such regulations as the Secretary of Commerce may promulgate, the
Secretary is authorized to provide Federal financial assistance in the
form of offtake agreements or price guarantees to any nongovernmental
entity the Secretary determines has invested in facilities and
equipment for the manufacturing, production, processing, or recycling
of rare earth components or rare earth magnets in countries that are
not covered nations.
(b) Publication.--Not later than 30 days after making any award of
assistance pursuant to the authorization under subsection (a), the
Secretary shall publish on a publicly available website of the
Department the terms and recipient of the assistance so awarded.
SEC. 6. REPORT.
Not later than 3 years after the date of the enactment of this Act,
the Secretary of Commerce shall submit to the Committee on Energy and
Commerce of the House of Representatives and the Committee on Commerce,
Science, and Transportation of the Senate a report describing the
manner and extent to which the limitations under this Act have been
implemented, the assessment of the Secretary relating to their success
at developing a secure supply of rare earth magnets, and any
recommendations with respect to expanding such limitations to include
all critical minerals.
SEC. 7. DEFINITIONS.
In this Act:
(1) Covered nation.--The term ``covered nation'' has the
meaning given that term in section 4872 of title 10, United
States Code.
(2) Rare earth component.--The term ``rare earth
component'' means samarium, cobalt, neodymium, iron, and boron,
to the extent such materials are intended for use in the
creation of a rare earth magnet.
(3) Rare earth magnet.--The term ``rare earth magnet''
means samarium-cobalt magnets and neodymium-iron-boron magnets.
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