BUZZ-Uranium miners fall as Trump imposes tariffs

U.S.-listed shares of uranium companies fall as U.S. President Donald Trump orders sweeping tariffs on goods from Mexico, Canada and China

Tariffs will take effect on Feb. 4 and includes a 25% levy on most goods from Mexico and Canada, 10% tariff on energy imports from Canada and a 10% tariff on Chinese imports

Canada is the world's second-largest producer of uranium after Russia and about 85% of its production is exported

Canada provided 27% of uranium to U.S. utilities in 2023, according to the U.S. Energy Information Administration (EIA)

Shares of Uranium Energy UEC.A fall 1.8%, Energy Fuels UUUU.A fall 2.1% and Ur-Energy URG.A fall 1.9%

U.S.-listed shares of Canadian miners NexGen Energy NXE.N down 1.8%, Cameco CCJ.N down 4.2% and Denison Mines DNN.N down 4.4%