So you might have heard of this 'Trade War' thing going on between the US and China. Regardless of what you think of it, the Trump tariffs are a consumption tax that most heavily affects middle class American consumers. Last month, an existing 10% tax on Chinese imports were raised to 25%. Nationwide, the currently imposed tariffs are expected to increase consumer costs by $69 billion annually
in the US.
The Good News:
Rare earth magnets and minerals have luckily been on the exemption list for these tariffs. Hurray! Being that rare earth magnets are critical to high tech and green energy products and there's basically no rare earth magnet production in the US except for military purposes, applying a tariff would not spurr local production, it would only be America shooting itself in the foot.
The Bad News:
Even though import taxes have not been raised on our magnets, China controls 95% of the world's rare earth supplies. Beijing thus far has only faintly suggested
that it will use rare earth limitations in retaliation. Though it's unlikely there will be an outright ban of high powered magnet exports, even the threat of limiting exports
of rare earth magnets from China has caused a massive spike in both demand and price
What's does this mean for the future of Zen Magnets? In the extremely unlikely even that China does ban rare earth magnet exports, the end of Zen Magnets will be a small blip in a global economic devastation. But more likely than a ban, rare earth metal prices will rise. Hopefully though, people chill out, neodymium prices stabilize, and we won't need to raise prices or drastically change our business model.
There are two Golden Tickets already out in the wild, yet neither have been redeemed for Mandala Sets! Unless someone is hoarding them for aesthetic value (they look really pretty), two of you need to investigate your Mystery Box V3 contents closer. (Hint: It's hidden between magnets and and a metal plate ;-) See if Golden Tickets have been redeemed by checking the #mandalawinner hashtag on Twitter
By the way, we've released another batch of Mystery Sets after the first 200 sold out within 12 hours of release, which does mean a third Golden Ticket released to the wild.