Why US 12.5% tariffs on imports from Nigeria are less significant – Economist 

Economist and fiscal analyst, Dr. Muda Yusuf has reacted to the 12.5 percent tariff imposed by the United States, nether President Donald Trump, connected imports from Nigeria.

In a connection issued astatine the weekend, Yusuf elaborate the apt economical interaction of the tariffs connected Nigeria.

Recall that 3 days ago, the Office of the United States Trade Representative, USTR imposed a 12.5 percent import tariff connected Nigeria and respective different countries implicit their alleged nonaccomplishment to instrumentality its forced labour rules.

Reacting, Yusuf, a erstwhile Director-General of the Lagos Chamber of Commerce and Industry, LCCI, outlined 2 reasons wherefore the interaction of the US tariffs is improbable to beryllium important for the Nigerian economy.

He explained that Nigeria’s exports to the United States are heavy concentrated successful crude oil, liquefied earthy gas, and different petroleum products, which relationship for much than 80 percent of the country’s merchandise exports to the US.

Yusuf added that different crushed the interaction of the US tariffs whitethorn not beryllium important is that the United States is not Nigeria’s largest export market.

“From Nigeria’s perspective, however, the economical interaction of the tariffs is improbable to beryllium significant...