Trump Hits Nigeria with 14% Tariff as ‘Liberation Day’ Trade War Escalates
U.S. Imposes Reciprocal Tariffs on 185 Nations, Sending Shockwaves Through Global Markets
A new chapter in the global trade war unfolded as U.S. President Donald Trump officially imposed a 14% tariff on all Nigerian goods entering the United States. The move comes as part of his much-anticipated “Liberation Day” tariffs, which set new levies on imports from 185 countries, rattling financial markets across the U.S., Europe, and Asia.
Trump’s policy, aimed at achieving what he calls “fair trade,” ensures that every country faces tariffs at half the rate they impose on the U.S., with a minimum baseline of 10%. In Nigeria’s case, Trump cited the 27% duty Nigeria charges on U.S. imports as justification for the 14% levy.
Global Trade War Heats Up
Wednesday’s tariff rollout marks a significant escalation in Trump’s aggressive trade strategy. Beyond Nigeria, several nations saw steep import levies, with some facing tariffs as high as 50%—Lesotho being the hardest hit. Additionally, the U.S. will enforce a 25% tariff on all foreign-made vehicles starting tomorrow, further intensifying trade tensions worldwide.
Defending his policy, Trump claimed he had the option to match each country’s tariff on the U.S. dollar-for-dollar but chose to impose a lower percentage to avoid greater economic shocks.
“I could have gone higher,” he stated, “but it would have been tough for a lot of countries who didn’t want to do that.”
What Does This Mean for Nigeria?
The new tariff threatens Nigeria’s ₦4.59 trillion exports to the U.S., raising concerns about the country’s trade outlook. However, some experts believe the impact might be minimal.
David Adonri, Vice Chairman of Highcap Securities, noted that much of Nigeria’s exports to the U.S. consist of tropical agricultural produce, which may not be severely affected by the tariffs. He also pointed out that as Dangote Refinery ramps up crude oil imports, the U.S. may now enjoy a trade surplus with Nigeria, shifting the balance of trade in America’s favor.
“The real burden of these tariffs will fall on American consumers,” Adonri explained. “If Nigerian goods have a high price elasticity of demand, U.S. buyers will simply absorb the extra costs rather than halt imports.”
What’s Next?
With tariffs on the rise and trade relations under strain, many are watching closely to see how affected nations—including Nigeria—respond. Will retaliatory tariffs follow? Will negotiations ease tensions? For now, Trump’s Liberation Day has set the stage for a high-stakes global economic battle—one that could reshape international trade for years to come.
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Trump Hits Nigeria with 14% Tariff as ‘Liberation Day’ Trade War Escalates