On Air Now

Relationship360

7:00am - 9:00am

U.S. Slaps 15% Tariff on Nigerian Exports Under Trump’s New Trade Order

Nigerian exports to the United States will now face a 15% tariff, following a new executive order signed by U.S. President Donald Trump on July 31 aimed at reshaping America’s global trade relationships.

The tariff hike, which takes effect August 7, places Nigeria among nearly 40 countries penalised under what Washington describes as an “unbalanced” trade system that disadvantages American manufacturers.

The move marks an escalation in Trump’s protectionist trade policy, coming just months after he initially imposed a 14% duty on Nigerian goods in April. That tariff was temporarily suspended for 90 days, then extended by one month to allow room for negotiations. However, no breakthrough was achieved.

Under the new structure, the U.S. will apply a default 15% tariff on imports from countries with which it has a trade deficit. Conversely, nations running a trade surplus with the U.S. will pay a lower 10% tariff. Nigeria’s trade surplus with the U.S. stands at $3.29 billion, making it the second-largest U.S. export destination in Sub-Saharan Africa, according to the Observatory of Economic Complexity (OEC).

The Trump administration says the revised tariff system is part of a broader effort to “restore fairness” and curb “systemic trade abuse.”

 


Weather

  • Lagos Weather

    Thunder storm

    High: 29°C | Low: 24°C