Up to 75% depend on China! U.S. no longer restricts imports of neodymium magnets
On September 21, the United States announced that it would no longer restrict the import of neodymium magnets.
Neodymium magnets are rare earth materials commonly used in commercial and military applications. According to a report, as the application of such magnets becomes more widespread, supply shortages and price increases are likely to occur in the next 5-10 years.
Although the United States now verbally says that it does not restrict the import of neodymium magnets, it actually secretly hopes that China can maintain exports and even increase its export volume.
What does the US have to do with China in making this decision?
It is understood that China has abundant rare earth resources, and the development of rare earth requires a lot of investment. It is not easy to find alternatives in a short time. Therefore, not only the United States, but all countries in the world are highly dependent on China’s rare earth exports.
As early as 2021, the United States announced an investigation into whether it is safe to import neodymium magnets to the country, and found that only China is relatively “active” in this field, and although the United States has rare earth mines, it has no industry that produces key rare earth magnets. Ability, all of a sudden “mental imbalance”.
But now the United States has announced that it will no longer restrict imports. It is nothing more than finding that the import of rare earth magnets, which are related to the development of key fields such as semiconductors in the country, cannot be replaced, and at the same time, it has to rely on stable external supply. The largest source of neodymium magnets in the United States is China.
It is worth mentioning that China’s neodymium magnet exports are relatively concentrated. Only in 2020, China’s top three export countries are Germany, Japan and the United States. Even if the United States plans to increase tariffs on such magnets, China will not be affected much. .