Uranium Tariffs Threaten Nuclear Plants Trump Is Trying to Save

[jpak]

https://www.bloomberg.com/news/articles/2018-07-19/uranium-tariffs-threaten-nuclear-plants-trump-is-trying-to-save

The Trump administration’s decision to consider tariffs on uranium imports may raise the cost of fuel for nuclear reactors and undermine a separate initiative to shore up struggling electricity generators.

The Commerce Department said Wednesday it will probe whether uranium imports “threaten to impair” national security. U.S. miners Energy Fuels Inc. and Ur-Energy Inc., which requested the probe in January, want 25 percent of the domestic market reserved for U.S. producers. Domestic companies supply less than 5 percent of U.S. consumption and would need about three years to ramp up production to meet that target.

The prospect of trade barriers comes after President Donald Trump last month ordered his energy secretary to take action to extend the life of money-losing coal and nuclear power plants that face competition from cheap natural gas and renewable energy. Those efforts may be hindered as the prospect of tariffs threatens to deal another blow to financially strapped reactor operators.

“The administration is searching for ways to help nuclear power plants that are financially struggling right now,” said Nima Ashkeboussi, director for fuel cycle programs at the Nuclear Energy Institute in Washington. “We wouldn’t want to see counterproductive action to their stated goal of saving nuclear power.”

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