President Donald Trump has announced a new tariff policy affecting 185 countries, including Nigeria, which will now face a 14% import tax on goods exported to the United States.
Speaking at the White House on Wednesday, Trump declared a 10% baseline tariff on imports from many nations, while imposing even higher rates on several others. The new policy includes a 34% tax on imports from China, 20% on the European Union, 25% on South Korea, 24% on Japan, and 32% on Taiwan.
Several African countries have also been hit hard by the tariffs. Algeria faces a 30% tax, Lesotho 50%, Mauritius 40%, Kenya 10%, Namibia 21%, while both Ethiopia and Ghana face 10% each. South Africa received a 30% reciprocal tariff.
Trump justified the tariffs by saying, “Our country has been looted, pillaged, raped, plundered” by other nations through unfair trade policies. He also declared a national economic emergency, arguing that the new taxes would generate hundreds of billions of dollars in annual revenue and help bring back factory jobs to the U.S.
In recent years, Nigeria’s exports to the U.S. have fluctuated. In 2022, Nigeria exported goods worth $4.9 billion to the U.S., an increase from $3.6 billion in 2021. However, exports fell slightly to $4.86 billion in 2023.
Nigeria’s main exports to the U.S. include crude oil and natural gas, along with cocoa, sesame seeds, ginger, solid minerals, and manufactured goods. Nigeria also benefits from the African Growth and Opportunity Act (AGOA), which allows certain goods to enter the U.S. duty-free. However, crude oil remains Nigeria’s top export.
The new tariffs could slow down global trade and increase prices for U.S. consumers. Trump has insisted the move will help American businesses, saying, “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.”
However, economic experts warn that these tariffs could raise prices on everyday goods such as cars, clothing, and electronics, causing inflation.
Heather Boushey, an economic adviser under President Joe Biden, dismissed Trump’s strategy, saying, “We are not seeing indications of the boom that the president promised. It’s a failed strategy.”
Democratic Congresswoman Suzan DelBene also criticized Trump’s move, calling it “part of the chaos and dysfunction” in his administration. She added, “This is a massive tax increase on American families, and it’s without a vote in Congress.”
Even some Republicans have expressed concern. House Speaker Mike Johnson said, “It may be rocky in the beginning, but I think this will make sense for Americans and help all Americans.”
Many U.S. trading partners have vowed to retaliate. European Commission President Ursula von der Leyen warned, “If necessary, we have a strong plan to retaliate, and we will use it.”
Italy’s Prime Minister Giorgia Meloni urged the U.S. to avoid a trade war, saying it could “have heavy consequences” for both economies.
Trump, however, remains firm on his position, saying, “We are finally putting America first.”
