H.R. 7563

[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.

_______________________________________________________________________

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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