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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city
MY COLOUR

Commercial Information Circulars

24-hour hotline : 23 922 922

e-mail address : enquiry@tid.gov.hk

Ref. : EIC 111/2/18
EIC 111/3
EIC 111/3/13

26 October 2022

Dear Sirs,

Commercial Information Circular No. 833/2022

US : Section 232 National Security Investigation into Neodymium-Iron-Boron (NdFeB) Permanent Magnets - Section 232 Tariffs will NOT be Imposed

Further to Commercial Information Circular (CIC) No. 689/2021 of 4 October 2021, the US Department of Commerce (DoC) announced in late September 2022 the findings and recommendations of its investigation into the national security impacts of imports of Neodymium-Iron-Boron (NdFeB) permanent magnets into the US. The US Administration will implement the US DoC's recommendations and not impose tariffs, quotas, or other import restrictions on NdFeB permanent magnets or component products.

DETAILS

2.On 21 September 2021, the US DoC initiated an investigation under Section 232 of the Trade Expansion Act of 1962, as amended, to determine the effect on the national security from imports of NdFeB permanent magnets. Subsequently, the US DoC issued a Federal Register notice of 27 September 2021 to invite written comments, data, analyses, or other information pertinent to the investigation.

3.On 21 September 2022, the US DoC issued the report on the effect of imports of NdFeB permanent magnets on the national security, including its findings and recommendations of the investigation. The report concludes that the present quantities and circumstances of NdFeB permanent magnet imports threaten to impair the national security of the US. However, the US DoC recommends not to impose tariffs, quotas, or other import restrictions on NdFeB permanent magnets or component products but has put forth other recommendations to address the situation. The US Administration will implement the US DoC's recommendations.

4.For details, please refer to the US DoC's report at (https://www.bis.doc.gov/index.php/documents/section-232-investigations/3141-report-1/file) and the relevant factsheet at (https://www.bis.doc.gov/index.php/documents/section-232-investigations/3142-2022-09-fact-sheet-biden-harris-administration-announces-actions-to-secure-rare-earth-element/file).

ENQUIRIES

5.For enquiries concerning the content of this circular, please contact Miss K Y HO at telephone number 2398 5405.

Yours faithfully,

(Miss Kwany KOU)
for Director-General of Trade and Industry

Note: While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.