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Trump Imposes 14% Tariff On Nigerian Exports

JUST IN: US President, Donald Trump Imposes 14% Tariff On Nigerian Exports

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JUST IN: US President, Donald Trump Imposes 14% Tariff On Nigerian Exports

Thecloudngr reports that U.S. President Donald Trump has implemented new tariffs in a dramatic escalation of trade tensions worldwide, branding the day as “Liberation Day” in his address to the public on Wednesday.

The President outlined plans for the U.S. to implement “reciprocal tariffs” on all countries, which will be “approximately half” of the tariffs those countries charge on U.S. imports.

Among the countries affected by this new tariff regime is Nigeria, which will now face a 14% tariff on its exports to the U.S., in contrast to the 27% tariff that Nigeria has been charging U.S. goods.

In 2024, Nigeria exported goods worth N931 billion to the U.S., with crude oil being the largest export item. However, in the same period, Nigeria imported ₦1.05 trillion worth of goods from the U.S., making the tariffs a significant part of the trade relationship.

The new policy will impact Nigeria’s export industry, as the U.S. tariff plan sets the bar for trade conditions going forward.

Trump unveiled a chart illustrating the trade imbalances between the U.S. and other countries, highlighting that China charges a tariff of 67% on U.S. goods, while the U.S. will impose a 34% tariff on Chinese goods.

The President also listed several countries and their new tariff charges, including:

European Union: 20% tariff

Vietnam: 46% tariff

Taiwan: 32% tariff

Japan: 24% tariff

India: 26% tariff

South Korea: 25% tariff

Thailand: 36% tariff

Cambodia: 49% tariff

These new rates indicate a significant shift in global trade policies, with the U.S. looking to reassert its trade power and push for more favorable terms.

Trump concluded his announcement in the White House Rose Garden by signing two executive orders aimed at addressing what he described as unfair trade practices.

The first order addresses “the de minimus loophole” with China, a provision that had allowed the country to export goods to the U.S. at a lower cost, bypassing taxes and import duties.

The second executive order focuses on reciprocal tariffs, which include a 25% tariff on all imported cars and tariffs ranging from 10% to 49% on all goods imported from abroad. Trump emphasized that these tariffs would generate “$6 trillion in investments” for the U.S. economy.

While President Trump claims that the tariffs will boost investments, experts argue that the burden of tariffs is typically borne by American businesses and consumers, not foreign exporters.

This move is likely to result in what some are calling the largest “tax hike” in U.S. history, with potential repercussions for American consumers facing higher costs on imported goods.

The European Union, which will now face a 20% tariff on all exports to the U.S., has not yet formally responded to the new tariffs. European Commission President Ursula von der Leyen is expected to make a statement on the issue later today.

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BREAKING: Arsenal Defeat Chelsea 2-1 at Emirates to Extend Unbeaten Run

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BREAKING: Arsenal Defeat Chelsea 2-1 at Emirates to Extend Unbeaten Run—-The Gunners came from behind after Morgan Rogers’ early opener, with Kai Havertz and Martin Ødegaard completing a comeback victory to maintain Arsenal’s perfect start to the Premier League season.

Arsenal produced another statement performance at the Emirates Stadium on Sunday, coming from behind to defeat Chelsea 2-1 and maintain their perfect start to the Premier League campaign.

Chelsea stunned the home crowd after just 77 seconds, when Morgan Rogers fired Xabi Alonso’s side into an early lead. Arsenal, however, responded strongly and gradually took control of the contest.

Kai Havertz restored parity in the 25th minute against his former club, finishing Arsenal’s sustained pressure to make it 1-1 before the break.

The Gunners continued to dominate after the restart and completed the comeback through captain Martin Ødegaard, who struck early in the second half after Havertz’s clever movement helped create the opening.

Chelsea pushed desperately for an equaliser late on, but Arsenal goalkeeper David Raya produced a crucial save to deny Estêvão and preserve all three points for the hosts.

The victory means Arsenal remain on nine points from three matches, level with Manchester City at the top of the Premier League. Chelsea, meanwhile, suffer their first league defeat of the season and remain on six points.

For Mikel Arteta, the comeback further underlined Arsenal’s championship credentials. The reigning champions showed composure after conceding their first goal of the campaign and once again demonstrated their ability to respond under pressure.

Chelsea’s defeat will be frustrating for Alonso, particularly after his side made such a fast start. Despite their attacking threat, Arsenal’s control and defensive resilience ultimately proved decisive.

The result also extends Arsenal’s remarkable unbeaten run against Chelsea to 12 matches across all competitions, further strengthening the Gunners’ recent dominance in the London derby.

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day—-Cityzens have reached a British record-equalling agreement with Chelsea for the Argentina international on Deadline Day, with Fernández set to undergo his medical.

Manchester City have agreed a £125 million deal with Chelsea to sign Enzo Fernández in one of the biggest transfers of Deadline Day.

The agreement, reported by Sky Sports and other leading outlets, will see the Argentina international leave Stamford Bridge for the Etihad Stadium in a move that matches the British transfer record previously set by Liverpool’s £125m signing of Alexander Isak.

Fernández is expected to undergo his medical before completing the transfer, with City working against the clock to finalise the deal before the summer transfer window closes.

Maresca Reunites With Fernández

The move will see Fernández reunite with Enzo Maresca, who previously coached him at Chelsea and is now Manchester City’s manager.

Maresca is understood to have been a major driving force behind City’s pursuit of the midfielder as he looks to reshape his squad and strengthen the centre of midfield.

Fernández played an important role during Maresca’s time at Stamford Bridge, helping Chelsea win major silverware before the Italian manager’s move to Manchester.

Chelsea Accept Record Fee

Chelsea signed Fernández from Benfica in January 2023 for approximately £107 million, making him one of the most expensive players in Premier League history at the time.

Just over three years later, Chelsea have agreed to sell the 25-year-old for £125 million, representing a significant return on their original investment.

The Argentine had recently been left out of Chelsea’s squad for successive matches, increasing speculation that his Stamford Bridge future was coming to an end.

City Make Deadline-Day Statement

Manchester City had been pursuing Fernández for much of the summer, but negotiations intensified dramatically as the transfer deadline approached.

Chelsea had previously valued their midfielder at around £120 million and had initially expected him to remain at the club after an earlier deadline for bids passed without a formal offer. However, City’s interest never disappeared, and the two clubs eventually found an agreement on Deadline Day.

The final £125 million package now puts Fernández level with the British transfer record.

Fernández Begins New Chapter

For Fernández, the transfer brings an end to a turbulent period at Chelsea and opens a new chapter under a manager he already knows.

The World Cup-winning midfielder arrived in England with enormous expectations after starring for Argentina and Benfica.

At Manchester City, he will be expected to become a central figure in Maresca’s midfield and help the club compete on multiple fronts.

A Record-Breaking Transfer

The £125 million agreement places Fernández among the most expensive players in football history and makes the Deadline Day transfer one of the biggest stories of the summer window.

City are now racing to complete the remaining formalities, including the medical, before the deadline.

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