Nigeria’s export under threat over US 12.5% tariff, SEREC warns
According to the centre, the tariff could trigger a decline in export earnings, intensify pressure on the naira through reduced foreign exchange inflows, lower industrial capacity utilisation and threaten jobs across agricultural value chains, manufacturing, logistics, freight forwarding and port operations.5per cent Tariff on Nigerian Exports: Implications for Nigeria’s External Trade and Fragile Economy”, the research centre said the tariff increase, which replaces an earlier temporary 10 per cent regime, would erode the competitiveness of Nigerian goods in the American market.
According to SEREC, although Nigeria was not specifically targeted, its inclusion among countries affected by the higher tariff raises concerns over export performance, industrial growth and long-term trade relations with the United States.
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