U.S. Probes Imports of Military-Grade Magnets From China

Source: bnnbloomberg.ca bnnbloomberg.ca

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(Bloomberg) -- The U.S. is going ahead with an investigation into whether imports of permanent magnets pose a national-security threat, the first such Biden-era probe as the administration seeks to strengthen supply chains and shore up local output. “Critical national-security systems” including fighter aircraft and missile-guidance systems rely on neodymium-iron-boron magnets, which are also used in electric vehicles and wind turbines, the Commerce Department said in a statement Friday. The inquiry is taking place under section 232 of the 1962 Trade Expansion Act, which allows for tariffs without a vote by Congress if imports are deemed a national security threat...