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 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.
Tariff Announcements
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.
The global stock markets initially responded positively, buoyed by relief that the levies were set at 10% and not the 20% rate previously feared.
Key Country Tariff on US goods va Proposed US tariff
- Vietnam 90% vs US 46%
- Cambodia 97% vs US 49%
- Bangladesh 74% vs US 37%
- China 67% vs US 34%
- Thailand 72% vs US 36%
- Indonesia 64% vs US 32%
- India 52% vs US 26%
- Taiwan 64% vs US 32%
- South Korea 50% vs US 25%
- Japan 46% vs US 24%
- Malaysia 47% vs US 24%
- South Africa 60% vs US 30%
- Sri Lanka 88% vs US 44%
- Israel 33% vs US 17%
- Philippines 34% vs US 17%
- EU 39% vs US 20%
- UK 10% vs US 10%
- Brazil 10% vs US 10%
- Singapore 10% vs US 10%
- Chile 10% vs US 10%
- Australia 10% vs US 10%
- Turkey 10% vs US 10%
- Pakistan 58% vs US 29%
- Colombia 10% vs US 10%
Nigeria’s exports to US versus Nigeria’s total exports globally
The reciprocal logic behind the tariffs
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%.
For example:
- Vietnam, which reportedly imposes a 90% tariff on U.S. goods, will now face a 46% tariff on its exports to the U.S.
- Cambodia (97% tariff on U.S. goods) will be met with a 49% U.S. levy.
Bangladesh (74%) will face a 37% tariff. - These countries, often beneficiaries of the U.S. Generalized System of Preferences (GSP), may now find their preferential access revoked or significantly reduced.
Major economies are also in the crosshairs
The policy doesn’t spare large economies. China, long the focal point of Trump’s trade ire, is alleged to impose a 67% tariff on U.S. products. It now faces a 34% reciprocal tariff. The European Union, which the administration says imposes a 39% tariff, will now see U.S. tariffs rise to 20%.
Other countries affected include:
- India: 52% vs 26% reciprocal U.S. tariff
- Japan: 46% vs 24%
- South Korea: 50% vs 25%
- Taiwan and Indonesia: 64% vs 32%
The administration insists these measures are not about punishing allies but about “restoring fairness” to a global system where, it claims, the U.S. has long been shortchanged.
Implications for the Global South and Nigeria
Though Nigeria is not among the countries directly listed in the initial White House document, the new policy represents a broader shift in how the U.S. engages with emerging and developing markets.
- Countries that rely on export-driven growth to the U.S., especially in textiles, manufacturing, and agriculture, could face increased scrutiny or renegotiation of trade terms.
- For Nigeria, which is seeking to boost non-oil exports under the African Growth and Opportunity Act (AGOA) and other bilateral frameworks, the move sends a clear signal: access to the U.S. market will increasingly be conditioned on perceived trade fairness.
- Countries like South Africa (60% vs 30%), Sri Lanka (88% vs 44%), and Pakistan (58% vs 29%), many with economic profiles similar to Nigeria, are now facing steep reciprocal duties.
- If Nigeria’s tariff regimes are deemed unfavourable to American goods, similar measures could be considered down the line.
Note: This article has been updated to include the tariff to Nigeria
