The President and CEO of Cameco says the tit for tat with tariffs doesn’t get anybody anywhere. Tim Gitzel spoke at the CIBC Western Institution Investor Conference on Thursday and was asked about the effect any tariffs would have on Cameco. He answered that Cameco has been through this before with President Trump, in 2017-18, when he announced tariffs on Canadian steel, aluminum and uranium.

Gitzel stated he spent months in the U.S. advocating for that decision to be revoked. He also noted the U.S. doesn’t have any uranium, so if there were tariffs, the bottom line is electricity would end up costing more for American citizens. Trump’s previous Administration then backed down.

Gitzel notes, “Between Canada and the U.S. we have everything it takes to be a nuclear powerhouse. We have uranium in Saskatchewan, we’ve got conversion in Port Hope, Ontario. The U.S. has some conversion. We are working on enrichment and then we have Westinghouse, which can build you any kind of reactor, service them and build them. We can be energy self-sufficient in nuclear in North America if we all work together.”

Cameco’s President and CEO’s next destination is the U.S. to talk again about why tariffs aren’t a good idea. He recently spoke with Premier Scott Moe about the issue and is a member of the federal Council on Canada – U.S. Relations which is a group of 18 members from across the country responding to the tariff threat.