In addition to Trump's tariffs on steel and aluminum and his upcoming tariffs on automobiles, all of which are being imposed on the grounds of "national security," the Trump regime has just launched a new "investigation" that they've probably already determined the result of.
Reuters reports that Commerce Secretary Wilbur Ross is considering imposing tariffs on imports of uranium.
The “Section 232” probe was prompted by a petition filed by two U.S. 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.
Ross said the probe would canvass the entire U.S. uranium sector from mining through enrichment and defense and industrial consumption.
You know who else claimed that foreign competitors were somehow cheating them and depriving Americans of the jobs they deserve? The steel and aluminum industry. And what have Trump's tariffs done for them? Jack and shit.
Now, you may ask where are we importing uranium from? I didn't know the answer that question myself so I looked it up and, sure enough, our number one source of foreign uranium is Canada. A tariff on uranium would be yet another tariff on our closest ally and trading partner in the world.
I don't think any of this is a coincidence.
From average metals to uranium, you have wealthy executives and interests asking the Trump regime for tariffs that will (temporarily) boost the value of their companies. Meanwhile, Trump is happy to give them what they want because it serves his personal ego and political machinations.
None of this is going to result in more robust "national security" and it's not going to set the labor market on fire.
The American uranium mining industry only employed 424 people in 2017 according to the U.S. Energy Information Administration. Uranium mining is inherently dangerous because it emits radioactive gas and is largely automated to prevent cancer and other occupational hazards.
Uranium imported from Canada and other countries is used in civilian nuclear energy plants so, if the Trump regime goes through with this, energy prices are probably going to go up for anyone who lives in an area of the country that relies on nuclear energy. That includes a majority of the eastern seaboard.