President Donald Trump’s new trade policy introduces a 10% tariff on all U.S. imports, along with country-specific reciprocal tariffs. Nigeria’s exports to the U.S. will now face a 14% tariff, down from the 27% the country imposes on U.S. goods. This marks a significant shift in global trade dynamics, particularly affecting developing economies like Nigeria.
The U.S. will apply similar tariffs on other African nations, including Ghana and Mauritius, depending on the tariffs they impose on American goods. This change will likely create higher trade barriers for these countries, impacting their access to the U.S. market.
The shift in U.S. trade policy signals the end of free trade orthodoxy and introduces a “reciprocal tariffs” approach, where U.S. tariffs mirror the rates other countries apply to American goods. This change presents challenges for nations like Nigeria, which depend on trade agreements like AGOA for preferential market access.
As the U.S. alters its trade terms, African nations will need to adapt by negotiating new trade agreements or revising tariff policies to maintain access to U.S. markets and diversify their exports beyond oil.
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