Reference KM previous article about magnet tariffs on linkedin, speaking about the U.S. Trade Representative (USTR) had been considering a tariff of up to 25% on permanent magnets.  But since China is the world’s mainly source for rare earth elements and other minerals used to produce neodymium magnets, which accounts for over 90% thereabouts.

 

However, when the final list of tariffs was published recently, we did not find permanent magnets among the $200 billion of Chinese goods subject to a 10% tariff effective Monday 9/24/18, followed by a dramatically  increasing uptrend to 25% on January 1, 2019.

 

By contrast, magnet tariffs seems to become priority of all items classified by HS code in Chinese custom system, it is still worth mentioning that 8505111000 and related ceramic magnet and other permanent rare earth magnet dominated the international market, SMN and other new replaceable magnetic materials is under investigation, it might back to list once lab find a innovative solution to copy with this growing demand for high tech industry globally.

 

For more details about magnet tariffs and USTR regulations, please check the website officially by

https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/september/ustr-finalizes-tariffs-200.

Kyle Magnetics appreciates our cooperation and will keep you updated related to product designs or supply chain and so on,  should you have any questions about magnetic materails, please let us know.


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