Trade War Spills Into Uranium as U.S. Weighs Import Tariffs
- U.S. companies supply less than 5% of domestic demand
- Higher uranium prices would threaten struggling U.S. reactors
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The Trump administration opened an investigation into whether uranium imports threaten national security, a move that may lead to tariffs on the nuclear power plant fuel. U.S. uranium miners rallied on the news while utilities that operate reactors slipped.
The Commerce Department said Wednesday it will probe “whether the present quantity and circumstances of uranium ore and product imports into the U.S. threaten to impair the national security.” The probe will cover the entire uranium sector, from the mining industry to enrichment, defense and industrial consumption, the department said.