To amend the Harmonized Tariff Schedule of the United States to provide separate subheadings for low-energy magnets and articles containing magnets and to create additional U.S. notes explaining the tariff classification of low-energy magnets and articles containing magnets.

Amends the Harmonized Tariff Schedule of the United States to: (1) provide separate subheadings for low-energy magnets and articles containing magnets; (2) create additional U.S. notes explaining the tariff classification of low-energy magnets and articles containing magnets; and (3) specify corresponding rates of duty to which any staged rate reduction shall apply.