President Trump is poised to sign an executive order under the Defense Production Act to bolster the nuclear industry in light of U.S. reliance on foreign enriched uranium from Russia and China. This move has led to a notable rally in uranium stocks, with significant increases observed in companies like Cameco and Uranium Energy. Beyond promoting existing firms, the order also directs federal agencies to facilitate new nuclear facility construction in an effort to support the growing demand for nuclear energy as a climate solution. Analysts predict a substantial market growth over the next decade.
The market for nuclear energy is projected to grow significantly in the coming decade, indicating a rising demand that may outstrip supply.
Trump’s executive order aims to decrease U.S. reliance on foreign enriched uranium by promoting domestic nuclear production through the Defense Production Act.
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