The Biden administration’s critical supply chain review included a proposed section 232, national security, investigation of imports of neodymium magnets used in automotive and defense applications. Suppliers from China accounted for 75.8% of total U.S. imports of such magnets in Q1’21 compared to 70.2% in 2020, crowding out shipments from allied nations in Europe and Asia ex-China. If tariffs are applied that may require Nidec and Daimler among others to switch sourcing or raise their prices. It may also result in increased supplies to Mexico which would allow onward use ...