The article discusses the implications of President Trump's proposed tariffs on uranium imports from Canada, which supplies over a quarter of the uranium used in US nuclear reactors. Although tariffs are paused for now, industry leaders like Cameco's CFO warn that their implementation would likely lead to higher uranium prices, disrupting the nuclear energy sector and possibly hindering a domestic uranium supply resurgence. The Nuclear Energy Institute remains ambiguous about the potential effects, highlighting uncertainty in the energy landscape.
"It's kind of Econ 101 to figure out what the impact of tariffs are in this situation," Cameco CFO Grant Isaac said in a February 20th earnings call.
A 10 percent tariff would lead to a 10 percent rise in uranium prices, Isaac said, whether that's from Canada or elsewhere.
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