Nigeria, a key exporter to United States is among the countries affected by US President Donald Trump’s sweeping tariff measures.
Gatekeepers News reports that on Wednesday, Trump unveiled sweeping global tariffs on all imports into US, imposing a 14% tariff specifically on Nigerian goods.
2023 data published by Observatory of Economic Complexity (OEC) reported that Nigeria exported $6.29 billion worth of goods to the US.
The main exports include crude petroleum ($4.73 billion), petroleum gas ($920 million), and nitrogenous fertilizers ($167 million), with Nigerian exports to the U.S. growing at an annualized rate of 1.59% over the past five years.
Trump who expressed optimism that the numbers would improve, said the decision was critical for America’s restoration as the world’s sole superpower.
The executive order imposes a baseline 10 per cent tariff on all imports as well as individualised reciprocal tariff rates on over 60 countries.
Trump warned foreign leaders who he predicted would soon call for exemptions, to first lower their tariffs.
The “baseline” 10 percent tariff would start on April 5, while higher rates on various partners would begin on April 9.
The U.S. government said Nigeria charges a 27% tariff on U.S. goods, citing currency manipulation and trade barriers as contributing factors.
See the full tariffs below:
