In a sweeping move that could redefine global commerce, U.S. President Donald Trump has announced a baseline 10% tariff on all U.S. imports, alongside sharper, country-specific reciprocal tariffs aimed at nations that impose steeper duties on American goods.
Exports from Nigeria to the US will attract a 14% tariff compared to the 27% that the US government claims it receives from Nigeria.
Nigeria’s trade with the United States printed a combined N31.1 trillion between 2015 and 2024 (10 years), according to data from the NBS. Total imports within this period were N16.4 trillion or 8.7% of Nigeria’s global exports.
The announcement, made during a Rose Garden event tagged “Liberation Day,” marks a dramatic shift from decades of free-trade orthodoxy that has underpinned the global economy since World War II.
Trump declared the start of what he called a new era of “fair trade,” promising to “supercharge America’s industrial base” and force open foreign markets long accused of shutting out U.S. goods.
“This is one of the most important days in American history,” Trump said.
“We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers.”
The new tariffs, which take immediate effect, apply to more than 50 countries. They include major trade partners like China, the European Union, India, and Japan, as well as developing economies in Asia, Africa, and Latin America.
Nigeria’s exports to US as a percentage of global exports has declined over the years as the US buys less of Nigeria’s crude oil.
The Trump administration’s reciprocal tariff policy is also set to impact several African nations, with countries like Nigeria, Ghana, Ethiopia, and Mauritius featured on the latest White House list of tariff adjustments.
According to the data, 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.
While Nigeria is not among the highest tariff imposers, the adjustment signals that the U.S. is casting a wide net that includes not just economic rivals but also developing nations with whom it previously maintained preferential trade terms.
Mauritius is another major African economy affected, with the U.S. citing an 80% tariff burden on its exports.
A 40% reciprocal tariff has now been proposed—one of the steepest in the African bloc. Ghana and Ethiopia, by contrast, impose relatively low tariffs on U.S. goods (17% and 10% respectively), and will see the U.S. apply matching or near-matching tariffs in return (10% each).
Other African countries listed include
- Algeria: 59% tariff on U.S. goods; 30% reciprocal U.S. tariff
- Namibia: 42% vs 21%
- Lesotho: 99% vs 50%
- Kenya: 10% vs 10%
These adjustments could carry significant implications for African economies that depend heavily on U.S. trade preferences, such as those under the African Growth and Opportunity Act (AGOA).
For Nigeria and others seeking to diversify their export base beyond crude oil, this shift presents both a challenge and a wake-up call.
Without revisiting their own tariff regimes or negotiating new trade terms, many African economies risk losing access to the world’s largest consumer market—or face higher barriers to entry.
At the heart of Trump’s new trade doctrine is a concept his administration calls “reciprocal tariffs.” Under this framework, the U.S. imposes duties on imports equivalent to half the tariff rates those countries apply to American exports.
A chart displayed during the “Make America Wealthy Again” event listed countries deemed to be the worst offenders.
These include Vietnam, Cambodia, and Bangladesh, all of which levy tariffs above 70% on U.S. goods. Under the new plan, U.S. import tariffs on their goods will now range between 37% and 49%.
President Donald Trump declared a US economic emergency and announced tariffs of at least 10% across all countries, with rates even higher for 60 countries or trading blocs that have a high trade deficit with the US. Auto tariffs are now in effect.
China hit hardest: China, the second top exporter to the US behind Mexico, will now face a 54% tariff and has threatened countermeasures. Canada and the EU, also top trade partners, are preparing countermeasures.
Global markets rattled
After-hours US stock markets fell sharply, as did Asian markets, after the tariff announcement and gold hit a new record high as investors seek safer investments. Leading economists told CNN they feared the tariffs could lead to a global recession.
Nairametrics/CNN