The US is losing the nuclear energy export race to China and Russia. Here's the Trump team's plan to turn the tide
The Trump administration is preparing a new push to help American companies compete in the race to build the next generation of nuclear power plants around the world — a competition the U.S. is currently losing.
But even with the State Department lending its diplomatic heft, winning nuclear energy contracts won't be easy. Russia and China are aggressively pursuing those deals at a time when the U.S. has struggled to build reactors at home and no longer enriches uranium to fuel those facilities. China is building more reactors at home than any other country, and its state-owned nuclear companies are beginning to enter the international market in Pakistan, Argentina and the UK. Russia's Rosatom, already an established exporter, is providing reactors for plants in Eastern Europe, India, Bangladesh and Turkey.
During the address, Ford outlined State's plan to help American companies compete with Chinese and Russian firms. That will make more countries"fully prepared to take advantage of the emerging technologies and coming innovations in reactor design and other areas that are being pioneered in the United States," Ford said.
The State Department now plans to address nuclear energy cooperation in high-level meetings with presidents, prime ministers and foreign ministers, a senior State Department official told CNBC. State's focus is on teeing up sales of a new generation of nuclear technology expected to come online in the next five to 10 years, the official said.
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