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.