The U.S. President, Donald Trump has announced a baseline 10% tariff on all U.S. imports.
Nigeria currently imposes a 27% tariff on U.S. goods. Under the new policy, the U.S. will apply a 14% reciprocal tariff on Nigerian exports, marking a significant change in the trade dynamics between both nations.
Exports from Nigeria to the US will attract a 14% tariff compared to the 27% that the US government receives from Nigeria.
Nigeria’s trade with the United States totaled N31.1 trillion between 2015 and 2024 (10 years), according to data from the Nigerian Bureau of Statistics (NBS). Total imports within this period were N16.4 trillion or 8.7% of Nigeria’s global exports.