US uranium companies gain as Trump's tariffs go into effect

Shares of U.S. uranium miners rise premarket, as President Donald Trump's tariffs go into effect

Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%

The move also includes 10% tariffs on energy imports from Canada

In 2023, Canada was the largest source of uranium for the U.S., supplying 27%, according to data from the U.S. Energy Information Administration

Shares of enCore Energy EU.O rise 5.9%, Nano Nuclear Energy NNE.O up 2.1%, Energy Fuels UUUU.N rise 1.8% and Uranium Energy UEC.A gain 0.8% before the bell