Defense companies are reportedly urging the Trump Administration to delay an impending deadline that forbids them from procuring rare earth magnets from China for U.S. military contracts.
The firms are requesting more time to adhere to the ban on Chinese samarium cobalt magnets and neodymium iron boron magnets. The ban, set to become effective from January 1, 2027, has been in the pipeline for years, reported the Financial Times on Monday.
These magnets are essential components in products ranging from electric vehicles and smartphones to fighter jets and advanced weapons systems. China dominates global production and has strengthened its control further by restricting access to these critical materials.
Under rules introduced by Congress in 2018 during President Donald Trump‘s first term, defense contractors will be barred from supplying the U.S. military with magnets, tungsten, and tantalum sourced from China. The restrictions also apply if any part of the materials’ production process takes place in China, North Korea, Russia, or Iran.
Magnet production also takes place outside …
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