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Core sample boxes with oxidized uranium at a processing facility near Patterson Lake, Canada, on April 16th, 2024. | Image: Getty Images
President Donald Trump’s tariff threats could raise the price of uranium used to fuel US nuclear reactors, which could have ripple effects on a tenuous nuclear renaissance spurred by the growth of energy-hungry data centers.
The US gets more than a quarter of its uranium from Canada, more than from any other country. The Trump administration imposed new tariffs on uranium and other goods on Canada this week, which he soon paused after a stock market drop and sell-off.
It could play into efforts to build up a domestic uranium supply
It’s too soon to know what the exact impact would be on the US’s nuclear energy industry if tariffs move forward. It could play into efforts to build up a domestic uranium supply, which has gotten bipartisan support and interest from major tech companies. But in the near term, the US still relies on its northern neighbor to keep reactors running.
Trump proposed a 10 percent tariff on energy products from Canada, but he announced yesterday that it would be paused until at least April 2nd. Canada-based Cameco, one of the world’s biggest uranium producers, warned that the tariffs would inevitably lead to higher prices.Â
“It’s kind of Ec …
Read the full story at The Verge.
