Forces acting on a magnet and paper clip Suppose a paper clip is stuck to a surface, with tape for example. A magnet is placed close to the clip, and starts moving towards it. Now, there is a force acting on the clip from the magnet, but is there a force acting on the magnet from the clip? Does Newton's third law apply literally here?
 A: Absolutely yes, third Newton's law is satisfied in this case too. Maybe when you think in a magnet heavier than the clip you may think that there are no forces acting in the magnet, but you can think in a little magnet close to a heavy metal object, the object doesn't move and the magnet moves in the object's direction. Because of the magnetic field the clip gets magnetized, that means that the clip gets a magnetic induction field in the direction of the magnet's field and that creates a new magnetic field that attracts other magnetic objects, included the initial magnet.
A: Absolutely yes, and if the magnet is strong enough and the paper clip's material is very ferromagnetic you may even feel a pull when you hold the magnet near the clip.

Newton's third law apply literally here

I don't know what you mean by "literally". So, let me just try to clear some confusions you might have about Newton's third law(N3L):
When you push a body the body pushes you back with an equal and opposite force, how will the body even move then? Well, action-reaction acts on two different bodies. Free body diagrams of both of the bodies will only include either action or reaction each.
Which comes first, action or reaction? In classical physics(speed of light=$\infty$), both action and reaction manifest simultaneously with no delay at all. If there were a delay, say for example action comes first then $\Delta t$ time later reaction appears, then during that $\Delta t$ N3L is violated as there is no reaction for the action. In classical physics there is no physical difference between action and reaction, you may name either force action/reaction as you please. However in reality (speed of light $\neq \infty$), then N3L can be violated in some special cases. (see footnote in Section 1.2, "Classical Mechanics" by H. Goldstein).
Forces in our day to day life are central(are equal in magnitude and opposite in direction and act along the line joining the two bodies) example: coulombic forces (tension, normal force, when you apply force on an object by touching it etc.) & gravitational forces. Newton's third law is just a manifestation of the properties of central forces. Even though the real story takes place at molecular level (Coulomb repulsions), all those gazillions of molecular action reaction pairs(molecules on your hand and on the object you're pushing/pulling) taken together vectorially to give rise to only two pairs. These two pairs can be drawn in free body diagrams intuitively without ever worrying about the molecular story.
