US EditionAfrica: How the New U.S. Tariffs Were Calculated and What They Mean for AGOA Trade Deal
- The Federal Government of Nigeria has acknowledged the negative impact of the newly imposed tariffs by U.S. President Donald Trump on Nigeria's oil and non-oil exports, potentially harming trade relations and competitiveness in the U.S. Market.
- Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, stated that the new 14 percent tariff will undermine the competitiveness of Nigerian goods, especially in sectors that rely on market access.
- Oduwole indicated that small and medium-sized enterprises will particularly struggle with rising costs and uncertain buyer commitments due to these tariffs, affecting their market access.
- Economic experts have warned that these tariff changes could weaken Nigerians' standard of living and reduce demand for Nigerian oil in the U.S., which is a critical market.
16 Articles
16 Articles
Africa: How the New U.S. Tariffs Were Calculated and What They Mean for AGOA Trade Deal
Cape Town -- The formula used by the Trump administration to calculate the tariffs the United States is imposing on countries across the globe is being widely criticised by trade specialists.
We're in consultation with the US - FG reacts to Trump's 14% tariff on Nigerian exports
The Federal Government has acknowledged the recent tariff measures announced by the U.S. Government, including imposing a 14 per cent tariff on Nigerian exports. This is contained in a statement signed by Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, on Sunday in Abuja. The News Agency of Nigeria (NAN) reports that the U.S. President, Donald Trump, announced that Nigerian exports to the U.S. will now be subjected to a 14 percent…
US tariffs pose ‘destabilising challenges’ to Nigerian trade – Minister
The Federal Government has acknowledged the adverse impact of the newly imposed tariffs by US President Donald Trump on Nigeria’s oil and non-oil exports, which could potentially disrupt trade relations and affect the competitiveness of Nigerian products in the US market. In a statement issued on Sunday, Nigeria’s Minister of Industry, Trade, and Investment, Dr
Balanced Trade - Guest Post by Alex Macris - Deep Knowledge Investing
Today, we welcome back our most frequent guest poster, Alex Macris. Over the past week, we’ve all seen the mainstream media analysis and FinX hysteria screaming that President Trump has no idea what he’s doing as he intentionally destroys the economy with poorly thought-out tariffs. Last week, DKI asked the question, “Tariffs – What if Everyone is Wrong?“. In his usual detailed analytical style, Alex answers the question by explaining what the P…
US tariff hikes undermine Agoa
The decision by the United States (US) to impose reciprocal tariffs on trading partner countries has been seen as undermining the African Growth and Opportunity Act (Agoa). This agreement allows sub-Saharan African countries preferential access to the US market with some products allowed to enter duty-free. Executive director in the Ministry of International Relations and Trade, Penda Naanda, says: “The move by the US administration undermines t…
Ex-US State Dept. Official Warns of Potential Cascading Impacts of Trump's 10% Tariff on Gambia's Economy
By: Momodou Justice Darboe Former US State Department official Mr. Musa Basad Jawara has stated that though Donald Trump’s 10% baseline tariff may not significantly impact Gambia’s export to the US, the Gambia’s policy-makers and economic operators should be concerned about the potential effects of the tariffs on advanced economies that provide budgetary support to The Gambia. “These economies may face difficulties due to the US tariffs, which c…
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