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February 5, 2025
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3 minute read
US tariffs to add support for rare earth prices outside China
From Tuesday of this week, the US will levy a 10% tariff on imports of “all articles” from China, over and above any other duties, fees or tariffs already in place.
The move is a boon for existing and emerging producers of NdFeB magnets outside of China, and especially the US where a 25% import tariff on permanent magnets from China is already slated to come into effect from January 1, 2026.
Should the newly enacted 10% import tariff (plus pre-existing 2.1%) be maintained into next year and the planned 25% increase be levied on top, the combined 37.1% duty would go a long way to help level the playing field against China’s highly subsidized and hyper competitive rare earths industry.
