U.S. Commerce launches national security probe into uranium imports

U.S. Commerce launches national security probe into uranium imports

The "Section 232" probe was prompted by a petition filed by two USA uranium mining companies, Ur-Energy Inc (URG.A) and Energy Fuels Inc (UUUU.A), complaining that subsidized foreign competitors have caused them to cut capacity and lay off workers.

The Commerce Department has started an investigation into the impact of uranium imports on US national security, a move that could result in tariffs and add another front to the Trump administration's trade fight.

The Commerce Department said Wednesday it will probe "whether the present quantity and circumstances of uranium ore and product imports into the US threaten to impair the national security".

U.S. Commerce launches national security probe into uranium imports

Ross said the probe would canvass the entire USA uranium sector from mining through enrichment and defense and industrial consumption. Uranium is used in commercial reactors that power electrical grids, as well as in Navy submarines and aircraft carriers.

The Department of Defense will be consulted about national defense requirements for uranium, Commerce Secretary Wilbur Ross said in a separate letter to Defense Secretary James Mattis notifying him of the investigation.

Ross added that the USA production of uranium has fallen to 5 percent of US consumption needs from 49 percent in 1987. Canada's Cameco Corp., the top North American supplier, followed suit in November. FCC deals blow to Sinclair-Tribune merger Ex-cyber officials demand to know security measures for 2020 Census It's time to confirm the US Export-Import Bank Board for our economic security MORE announced Wednesday that his agency would investigate whether uranium imports to the United States pose any threat to national security. Within weeks, the USA government had put a tariff on imported metals, including from Canada. Nearly 90 percent of uranium delivered to USA reactors was from foreign nations in 2016, according to the government agency.

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