US officials declared the Department of Commerce was considering initiating a Section 232 investigation into the national security impact of neodymium magnet imports used in motors and industrial applications.
President Biden ordered supply chain reviews in February, requiring executive agencies to report back within 100 days.
The review is a broader Biden administration strategy to help US competitiveness in the face of economic challenges.
'Obviously, a number of Chinese industrial policies have contributed to vulnerable US supply chains. I think you are going to see this strike force focusing in feeding into some of our China policy developments,' said a US official.
The official declared the US is not looking to wage trade wars with allies and partners, stating the strike force would be focused on very targeted products.