Commerce releases magnet probe findings, advises against tariffs

President Biden has concurred with the Commerce Department’s determination that imports of neodymium-iron-boron permanent magnets threaten national security and will take a series of recommended actions -- but not tariffs -- to mitigate that threat, the administration announced. Commerce on Wednesday released its report on its investigation into magnet imports , conducted under Section 232 of the Trade Expansion Act of 1962 -- one of several actions directed by President Biden following a review last year of vulnerabilities in critical...