U.S. President Donald Trump has declared a standard 10% tariff on all imports into the United States, in addition to more stringent, country-specific reciprocal tariffs targeting nations that levy higher duties on American products.
In line with this, Nigerian exports to the U.S. will incur a 14% tariff, in contrast to the 27% tariff that the U.S. government says it faces from Nigeria.
The reciprocal tariffs” will hit 20 African countries, including 30% for South Africa.
Other African countries hit with extra tariffs include 50% for Lesotho, 47% for Madagascar, 40% for Mauritius and 37% for Botswana.
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Also, Kenya, Ghana, Ethiopia, Tanzania, Uganda, Senegal and Liberia were among those countries whose exports to the US will be subject to the baseline tariff of 10%.
The declaration, presented at a Rose Garden event labeled “Liberation Day,” signifies a significant departure from the free-trade principles that have supported the global economy since World War II.
Trump proclaimed the beginning of what he referred to as a new phase of “fair trade,” vowing to “revitalize America’s industrial sector” and to compel foreign markets, which have been criticized for excluding U.S. products, to open their doors.
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.
