The United States has defended President Donald Trump’s decision to impose a 14% tariff on Nigerian exports, citing trade barriers created by Nigeria’s restrictions on 25 categories of American goods.
US President, Donald Trump, last Wednesday, announced a 10 percent tariff on imports from all countries, with additional levies targeting about 60 nations deemed the “worst offenders” in trade imbalance.
Citing economic security concerns, the White House described the decision as a national emergency response to what it called, “unfair treatment of the United States in global trade”. It justified the tariffs as a corrective measure against countries engaged in currency manipulation, excessive value-added taxes (VAT) and restrictive trade policies that disadvantage American businesses.
Nigeria has blocked 25 product categories from entering its borders, a move the U.S. government said is hurting American exporters and breaching the basic rules of global commerce.
Defending its position on the 14% tariff on Nigerian exports, the US Government said the ban on 25 products limits US market access, particularly in agriculture, pharmaceuticals, and consumer goods, leading to significant losses for American businesses.
“Nigeria maintains an average 27 percent tariff against the U.S., which is unfair dealing”, Trump said.
In a statement on Monday, the U.S. Trade Representative (USTR) said, “Nigeria’s import ban on 25 different product categories impacts U.S. exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit U.S. market access and reduce export opportunities. These policies create significant trade barriers that lead to lost revenue for U.S. businesses looking to expand in the Nigerian market.”
Meanwhile, Nigeria is considering a major reset of its economic strategy in response to the 14% tariff.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who disclosed this on Monday, said the federal government is considering an adjustment to its national budget as part of measures to respond to potential shocks of the tariff.
Edun, who emphasised that Nigeria remains relatively insulated due to early reforms and a shift in economic strategy, said the government is prioritising non-oil revenue mobilisation through the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service to mitigate potential revenue shortfalls.
