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Trump Targets Nigeria! U.S. President Hikes Tariffs, Shakes Export Market
Nigeria and several other African nations have been slapped with a 15 per cent import tariff following a new executive order issued by United States President Donald Trump.....KINDLY READ THE FULL STORY HERE▶
Saturday PUNCH learned that the announcement was made on Thursday as part of the White House’s updated policy on reciprocal tariff rates.
Earlier in April, Trump had introduced tariff increases targeting various global trade partners, including a 14 per cent duty on Nigerian exports. However, the implementation was delayed for 90 days to allow for bilateral negotiations, with the deadline set for August 1.
Sources say the negotiations yielded little progress, prompting Trump to enforce higher tariffs as part of a revised global trade strategy.
While many countries were still exploring ways to respond to the looming tariffs in June, the U.S. administration escalated tensions by placing travel restrictions on several African nations. Nigeria, though initially excluded, was eventually added to the travel ban in mid-June.
Despite months of intense diplomatic engagement, the U.S. failed to conclude a single trade agreement with any African nation during the negotiation window.
According to the updated executive order seen by Saturday PUNCH, countries now facing the 15 per cent tariff include: Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Côte d’Ivoire, Democratic Republic of the Congo, Ecuador, Equatorial Guinea, Fiji, and Ghana.
Others listed are Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, and Zimbabwe.
In addition, several countries were hit with even steeper tariff rates as part of Trump’s wider effort to enforce a tough trade regime globally.
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