In a sweeping policy shift that redefines America’s global trade stance, U.S. President Donald Trump on Thursday announced a baseline 10% tariff on all U.S. imports, signaling a hard pivot from the country’s decades-long free-trade tradition. The move, dubbed “Liberation Day,” introduces sharper, country-specific reciprocal tariffs aimed at penalizing nations accused of limiting U.S. market access.
“This is one of the most important days in American history,” Trump declared. “We will supercharge our domestic industrial base, we will pry open foreign markets, and break down foreign trade barriers.”
The policy marks a seismic shift in post-World War II trade dynamics, as the United States transitions from multilateral trade liberalism to a more protectionist, ‘America First’ doctrine. Trump’s administration asserts that the new tariffs are essential to revitalize domestic manufacturing, reduce dependency on foreign supply chains, and combat what it calls decades of “unfair trade practices” by economic rivals.
The global economic community is closely watching the fallout, with analysts warning of potential retaliatory measures, rising trade tensions, and impacts on global supply chains. However, supporters argue the move could lead to a stronger U.S. industry and a recalibrated trade balance.
The sweeping move could redefine global commerce, Nigeria’s inclusive.
Exports from Nigeria to the US will attract a 14% tariff compared to the 27% that the US government claims it receives from Nigeria.
Nigeria’s trade with the United States totaled N31.1 trillion between 2015 and 2024 (10 years), according to data from the Nigerian Bureau of Statistics (NBS). Total imports within this period were N16.4 trillion or 8.7% of Nigeria’s global exports.