Yellow Cake cheers Trump's decision to not restrict U.S. uranium imports
July 15 (Reuters) - Uranium fund Yellow Cake on Monday cheered U.S. President Donald Trump's decision to not implement fresh trade restrictions on U.S. uranium imports and said it expects activity in the market to pick up in the near term.
Trump said in a memorandum on Saturday he did not concur with a U.S. Commerce Department investigation that found uranium imports threaten to impair U.S. national security. "The Section 232 investigation has created an 18 month period of uncertainty which has severely restricted activity in the uranium market. We view the decision that no new trade restrictions will be implemented at this stage as positive," Yellow Cake Chief Executive Andre Liebenberg said. (Reporting by Yadarisa Shabong in Bengaluru)