The Centre for the Promotion of Private Enterprise (CPPE) has said the United States’ decision to impose a 12.5 per cent tariff on imports from Nigeria is unlikely to have a significant impact on Nigeria’s economy.
The think tank disclosed this in a statement by its Chief Executive Officer, Muda Yusuf, on Sunday, citing the dominance of tariff-exempt petroleum exports and the relatively small share of Nigerian exports destined for the US.
On Friday, the United States announced a plan to impose a 12.5 per cent tariff on imports from Nigeria.
The US government said the decision is part of a new trade measure targeting countries that have failed to prohibit the importation of goods produced with forced labour.
CPPE said the tariff is part of a broader policy shift by the United States aimed at protecting domestic industries and strengthening manufacturing competitiveness.
