US President Donald Trump said, he will not impose quotas on importing uranium, backing away from a possible trade confrontation and breaking with a Commerce Department assessment that America’s use of foreign uranium raises national security concerns.
Uranium is a vital component for the U.S. nuclear arsenal, submarines and power plants, which prompted a months-long Commerce Department investigation into whether such materials fall under the national security umbrella. Mr Trump announced he was going to order a working group to use 90 days to make recommendations to increase domestic uranium production. The decision was a rare moment in which the Trump administration did not use the powers of the government to give American companies a trade advantage over international competition.
The administration had previously levied tariffs on foreign steel and aluminium, leading to retaliatory tariffs from Canada, Mexico, China and Europe.