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Home Business & Economy

Trump Announces New Trade Tariff; Nigeria Faces 14% Duty on US-Bound Exports

by Victoria Ogbadu
April 3, 2025
in Business & Economy
Reading Time: 2 mins read
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In a historic shift from decades of free-trade policies, U.S. President Donald Trump has declared a new era of “fair trade,” imposing a baseline 10% tariff on all U.S. imports while introducing targeted reciprocal tariffs on goods from over 50 countries, including Nigeria.

Under the new policy, Nigeria exports to the U.S. will now face a 14% tariff, significantly lower than the 27% duty the U.S. claims Nigeria imposes on American goods. This adjustment is part of Trump’s “reciprocal tariffs” framework, which aims to align U.S. import duties with half the rate applied by trading partners on American exports.

Nigeria, which traded N31.1 trillion worth of goods with the U.S. between 2015 and 2024, may now need to renegotiate its tariff policies to maintain access to the world’s largest consumer market. The new measures could also complicate Nigeria’s efforts to diversify its economy beyond crude oil.

Other African nations affected include:

Ghana & Ethiopia: 10% U.S. tariffs (matching their 17% and 10% duties on U.S. goods)
Mauritius: A steep 40% U.S. tariff (responding to its 80% duty on American exports)
Algeria, Kenya, Lesotho, and Namibia: Tariffs ranging from 10% to 50%

The policy extends beyond Africa, targeting major economies like China (34% U.S. tariff), the EU (20%), and India (26%). Countries with the highest tariffs on U.S. goods—such as Vietnam (46%), Cambodia (49%), and Bangladesh (37%)—will now face proportionally elevated duties.

Trump framed the move as a bid to “supercharge America’s industrial base” and dismantle foreign trade barriers, calling it one of the most important days in American history. Critics, however, warn it could disrupt global commerce and strain diplomatic relations.

As Nigeria navigates these changes, analysts urge for swift trade policy revisions to avoid losing critical export opportunities.

ALSO READ TOP STORIES FROM VERILY NEWS

Tags: exportNigeriaTrade
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Victoria Ogbadu

Victoria Ogbadu

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