US President Donald Trump has announced a 14% tariff on exports from Nigeria to the United States. The decision, revealed during a “Make America Wealthy Again” event in the Rose Garden on Wednesday, is part of a broader plan to address global trade imbalances and what the U.S. sees as unfair trade practices.
The new tariff marks a significant change in U.S.-Nigeria trade relations, with the U.S. citing an ongoing trade imbalance. The Trump administration pointed out that Nigeria imposes a 27% tariff on U.S. exports, which they argue has hurt American businesses and consumers.
Trump presented the tariff as part of a wider strategy to protect American industries and ensure foreign nations adhere to “fair” trade rules. He described the move as the beginning of a new era of “fair trade,” aimed at boosting U.S. production, opening foreign markets, and lowering consumer prices.
“This is one of the most important days in American history,” Trump declared, emphasizing that the policy would strengthen the U.S. industrial base and create more competition.
Alongside the 14% tariff on Nigerian exports, Trump also introduced a 10% tariff on all U.S. imports. The new tariffs, effective immediately, impact over 50 countries, including major trading partners like China, the European Union, India, and Japan, as well as developing economies across Asia, Africa, and Latin America.
The new policy has raised concerns about a potential global trade war, with African countries like Algeria, Lesotho, Mauritius, Kenya, Namibia, Ethiopia, and Ghana also facing higher tariffs. South Africa will face a reciprocal 30% tariff.