Magnetic fields would be more useful for doing ultra cold fusion (Bose Einstein condensation fusion) than thermofusion processes. I know that there is a big scientific consortium to build a large thermofusion reactor for research into possible power production. The main problem is that the temperatures that have been proposed for what they want to do is approaching the inside temperature of the sun. Containment becomes a huge issue, especially of the high thermal energy. Magnetic forces can be used to slow (and contain) certain particles during a fusion event, but as mentioned before, temperature can play a big factor on what you can do with it. If the materials used to produce the magnetic fields gets too high of a temperature, it can lead to catastrophic failure of the magnetic field during the fusion process, which is not a good thing if you want control over it. If it is being used as a weapon, that can be figured in as a trigger mechanism though. I suppose you could coat the magnetic materials with a temperature resistant coating (doped carbon aerogels would be my guess), but that would cut down of the resulting magnetic field range also. However, even carbon aerogels have their temperature limits....
To be honest, I favor going the ultra cold route if you want to produce usable energy (as I do):
On the BEC fusion side, there was a report last year on a successful experiment that produced more energy than put into the reaction, which is a key step to overcome for ultra cold fusion. A baby step towards the future of energy production if you will. The fuel used in this experiment was a 50/50 mixture of deuterium and tritium. During the process, they combine from compression force to become an unstable helium isotope (3n and 2p => He-5). It then converts one of the neutrons into energy (via E=mc^2, which is basically electromagnetic energy in the high x-ray/gamma region), with the resulting leftover helium product. The starting mechanism involves high energy photons from lasers (along with magnetic fields) that hit the hollow gold foil container that these isotopes are in. Overall the process is safer than thermofusion, as any temperature amount above BEC will kill the process from occurring.
Here is a link to the report:
http://www.cnn.com/2014/02/12/tech/inno ... =inthenews