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The President of the United States, Donald Trump, has imposed a 15 percent import tariff on Nigeria and several other African and European countries to advance its extensive executive orders.
The White House announced the reciprocal rate modified on Thursday.
Countries that are slammed at tariffs are -; Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Côte D`ivoire, Democratic Republic of Congo, Ecuador, Guinea, Fiji, Ghana, Uganda, Vanuatu, Madagascar, Madaiamascar, Madagascar, Madagascar, Madagascar, Madagascar, Madagascar, Madagascar, Madagascar. Zimbabwe
Others are Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Nauru, New Zealand, North Macedonia, Norwegian, Papua Nugini, South Korea, Trinidad and Tobago, Turkey, and Venezuela.
Also read: NGX: Investors get the N948BN in August First Trading
Trump in April slamming sweeping tariffs on global trade partners, including imposing 14 percent in Nigeria.
The tariff forced by Trump, which is welcomed with retaliation from other countries, will be valid after 90 days to provide time to negotiate trade agreements, with the deadline set to 1 August.
However, most of the negotiations failed to produce a new agreement, triggering an increase in tariffs under the revised Trump global scheme.
It can be noted that in Africa, the US president did not reach a single trade agreement with any country, despite the panic efforts by several officials on both sides of the gap.
When countries tried to find a way around the tax in that period, Trump imposed travel restrictions on several African countries.
By: Babajide Okeowo
