The United States has raised import tariffs on goods originating from Nigeria and several other nations from 10% to 12.5%, a move that industry groups warn could significantly dampen export competitiveness and deter foreign investment.
The Sea Empowerment & Research Centre highlighted the immediate risks to trade balances and capital inflows as the new rates take effect.
The 12.5% rate represents a persistent drag on Nigerian exporters who are already navigating a complex global trade environment.
This escalation in trade barriers arrives at a precarious time for Nigeria's industrial base.
The Centre for the Promotion of Private Enterprise (CPPE) recently issued a policy brief detailing severe economic and humanitarian consequences stemming from the US decision to maintain elevated tariff levels.
The 12.5% rate represents a persistent drag on Nigerian exporters who are already navigating a complex global trade environment.
Domestic challenges are amplifying the external pressure.