1407 ET - While Cameco's uranium currently isn't being hit with the Trump administration's import tariffs, which exempt goods compliant with the Canada-U.S.-Mexico Agreement, CEO Tim Gitzel acknowledges a lot can change overnight. For one, Gitzel reminds investors the U.S. in April launched a fresh section 232 investigation on the risks of reliance on foreign sources of processed critical minerals which included uranium. A similar investigation in 2019 by Trump's first administration spared uranium, but Gitzel says the company in its wake proactively took steps to minimize potential future impacts such as adjusting and clarifying contract terms and positioning material well ahead of expected deliveries. "Those preemptive actions helped us prepare for the more recent threat of tariffs on Canadian nuclear fuel products, and we will continue to adapt accordingly and mitigate such risks in the future." (robb.stewart@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 14:08 ET (18:08 GMT)
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