The United States government has offered an explanation for President Donald Trump’s recent decision to impose a 14% tariff on exports from Nigeria, pointing to long-standing trade restrictions imposed by the Nigerian government on a wide range of American products.
Last week, President Trump unveiled a sweeping trade policy initiative labeled “Liberation Day,” which introduced new tariffs on imports from several nations, including Nigeria. According to U.S. officials, the move was a response to what the administration views as unequal trade practices.
The Trump administration contends that Nigeria currently imposes an average import tariff of 27% on goods originating from the U.S., particularly affecting sectors like agriculture, pharmaceuticals, and consumer products. These measures, they argue, limit market access for American businesses and hinder bilateral trade growth.
A document released by the Office of the United States Trade Representative (USTR) highlighted Nigeria’s import restrictions on 25 categories of goods as the central issue behind the tariff. Among the restricted items are poultry, beef, pork, processed foods, fruit juices, pharmaceutical products, and alcoholic beverages.
“These import policies create substantial barriers to trade, preventing American exporters from reaching Nigerian consumers and resulting in financial losses,” the USTR stated.
The newly implemented tariffs are part of broader protectionist measures that have sent shockwaves through global markets. On Monday, international stock exchanges—including those in the U.S., U.K., China, and India—saw sharp declines following the announcement. Bloomberg reported that the world’s wealthiest individuals lost a combined $208 billion in one day, marking the largest single-day drop since the height of the COVID-19 pandemic.
In retaliation, countries like China and Canada have unveiled their own counter-tariffs. Beijing responded with a 34% levy on American goods and imposed new export restrictions on critical materials such as rare earth elements, medicines, and food supplies.
Meanwhile, the Nigerian government, under President Bola Tinubu, is reportedly reviewing its economic policies in light of the U.S. tariffs. Finance Minister and Coordinating Minister of the Economy, Wale Edun, acknowledged that the new duties could significantly impact Nigeria’s $6 billion export volume to the United States and further strain the nation’s economy, which is already grappling with inflation and currency depreciation.
Edun stated that the federal government is exploring policy adjustments, including budget revisions and strategies to bolster local industries and reduce economic vulnerabilities arising from international trade disputes.
