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RECIPROCAL TARIFFS
The United States swung into a $576 million trade surplus with Nigeria in the first half of 2025, reversing a deficit of $779 million in the same period of 2024.
The Nigerian Economic Summit Group (NESG) has advised the Federal Government to urgently revise its tariff policies and renegotiate trade terms with strategic international partners, following the potential impact of a new wave of US protectionist policies modeled on US President Donald Trump’s trade stance.
Since Trump’s return to the White House and his renewed push for reciprocal tariffs, America’s aggressive trade stance in the last 90 days may have inadvertently begun to accelerate what was once a gradual effort by many nations of the world – American friends and foes alike – to curb some of their reliance on the dollar.