CUF - A Bright Future For Shareholders, page-586

The U.S. and its partners must end Communist China’s critical mineral industrial monopoly. My bill will provide more certainty to industry based in the U.S. and partner and ally countries so they may be able to develop a critical mineral industrial ecosystem China’s market manipulations cannot undercut.” – Senator Rubio

Specifically, this bill imposes mandatory tariffs on electromagnets, permanent magnets, batteries, solar panels, and solar wafers at rates of:150% on goods manufactured by entities controlled by China, irrespective of which country the goods are manufactured in; On those goods manufactured in China, 150% in the first year, 300% in the second year, 450% in the third year, and 800% each year after that; 25% on goods manufactured in countries that are not allies of the U.S., select free trade partners, or members of the Mineral Security Partnership.