Rare Earth Magnet Market Revitalization Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7563 Introduced in House (IH)] <DOC> 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