New US Defence Law Bans Magnets from China
time:2018-08-29 Clicks:1371second

Currently, United States President Donald Trump signed into law the John S. McCain National Defense Authorization Act which sets an increased budget for defense expenditure.

 

Section 871 of the act prevents purchase of rare earths magnets from prohibited countries, like China, Russia, North Korea and Iran.

 

Currently China produces 85-90 per cent of the world’s rare earth magnets, some 90% of rare earths magnets consumed by the US military are produced by China, world demand is outstripping supply and a shortfall of rare earths magnets is predicted by 2020.


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