Tariff Update for Rare Earth Magnets

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Tariffs & Product Availability in 2025

To Our Valued Customers:

Last updated: April 10, 2025

Background

China accounts for about 70% of Rare Earth production and about 90% of Rare Earth processing. Modern magnet materials such as Neodymium Iron Boron (often referred to as “Neo”, “Neodymium” or “NIB”) and Samarium Cobalt (“SmCo”) are highly dependent upon China for the ores, processing and for finished magnets and magnet assemblies.

Impact on Pricing

Many of the Rare Earth magnets sold on our website are dependent on sourcing in China. In the past, we have been able to absorb certain tariffs on goods imported from China. However, with the newly imposed tariffs of 125% as of April 10, 2025, we will be unable to absorb the dramatic increase in import duties and will need to raise our prices.

This is a rapidly changing situation, and if and when tariffs are reduced to their previous or some other level, we will, of course, reduce our prices accordingly.

Impact on Availability

The Government of China has announced that all Rare Earth materials (including Rare Earth magnets) are now subject to additional restrictions and export controls, which will most likely delay the delivery of inventory, and may cause temporary out-of-stock conditions for some items.

Here are a few links to recent updates:

Our Commitment to You

We will continue to leverage the excellent relationships we have developed over more than 25 years with our qualified China supplier base to try to ensure availability and cost mitigation so that your business is impacted as little as possible. Please check back for updates as this situation is currently very fluid.