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US HB7563
Bill
Status
2/12/2026
Primary Sponsor
Jill Tokuda
Click for details
AI Summary
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Prohibits importation of rare earth magnets and components (samarium-cobalt and neodymium-iron-boron magnets) originating from covered nations, as well as products incorporating such magnets, effective 1 year after enactment
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Allows waivers on a case-by-case basis when importers certify that alternative sourcing is not practicable, or when the Secretary of Commerce determines a waiver is in the national interest
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Authorizes the Secretary of Commerce to prohibit exportation of high-value electronic waste containing rare earth magnets that could be recycled domestically
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Permits federal financial assistance through offtake agreements or price guarantees to nongovernmental entities manufacturing, processing, or recycling rare earth components in non-covered nations
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Requires a report to Congress within 3 years assessing implementation success in developing secure rare earth magnet supplies and recommendations for expanding limitations to all critical minerals
Legislative Description
Rare Earth Magnet Market Revitalization Act
Last Action
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.
2/12/2026