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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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JUST IN: Manchester City Found Guilty of 114 Premier League Financial Charges

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JUST IN: Manchester City Found Guilty of 114 Premier League Financial Charges—-Manchester City have reportedly been found guilty of all but one of the 115 alleged Premier League financial breaches, with sanctions yet to be determined and the club expected to appeal.

Manchester City have reportedly been found guilty of 114 of the 115 alleged breaches of the Premier League’s financial regulations, bringing a major development to one of the longest-running financial cases in English football.

The reported verdict was delivered by an independent commission following a lengthy hearing into allegations dating back to the 2009-10 season. The Premier League originally charged City in February 2023 following a four-year investigation into the club’s financial affairs.

According to reports from The Athletic and The Times, the independent commission ruled against Manchester City on all but one of the 115 charges.

The allegations covered several areas, including claims that City failed to provide accurate financial information, failed to properly disclose payments to players and coaches, breached UEFA financial regulations and the Premier League’s Profitability and Sustainability Rules, and failed to cooperate with the league’s investigation.

Verdict Yet to Be Publicly Released

Despite the reported outcome, the Premier League has not formally published the commission’s verdict.

A Premier League spokesperson told Reuters that the matter remains confidential and the league would not comment on the reported findings. Manchester City also indicated that the process is not yet complete.

City have consistently denied wrongdoing since the charges were brought and are expected to appeal the reported findings.

The club said the Premier League process remains ongoing, with significant elements still to be completed and subject to strict confidentiality.

What Were Manchester City Charged With?

The 115 charges relate primarily to alleged breaches between 2009 and 2018, while separate allegations concerned the club’s alleged failure to cooperate with the Premier League investigation.

Reports indicate that 54 of the charges relate to alleged failures to provide accurate financial information, while another 35 concern alleged failures to cooperate with the investigation.

Further allegations involved the reporting of player and manager compensation as well as alleged breaches of UEFA financial regulations and the Premier League’s profitability and sustainability rules.

The hearing before the three-person independent commission lasted around 12 weeks and concluded in December 2024. The verdict was then delayed for a prolonged period because of the complexity of the case.

Punishment Has Not Been Decided

Manchester City have not yet been handed a punishment.

The sanctions that could potentially be considered under Premier League rules include financial penalties and sporting sanctions, although the eventual punishment will depend on the commission’s findings and the next stages of the process.

The club’s expected appeal could further prolong the case.

For now, the reported verdict represents a dramatic development in a case that has followed Manchester City for more than three years and covers a period in which the club established itself as one of the dominant forces in English football.

Manchester City maintain their position that they have acted properly and have consistently defended themselves against the allegations.

With the verdict reportedly going against the club on 114 of the 115 charges, attention will now turn to the official publication of the commission’s decision, the sanctions, and Manchester City’s expected appeal.

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BREAKING: Haaland Scores Controversial Goal as 10-Men Manchester City Defeat Manchester United at Old Trafford

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BREAKING: Haaland Scores Controversial Goal as 10-Men Manchester City Defeat Manchester United at Old Trafford—-Erling Haaland struck after a lengthy VAR review to hand 10-man Manchester City a dramatic 1-0 victory over Manchester United in a fiery Manchester derby.

Manchester City secured a dramatic 1-0 victory over Manchester United at Old Trafford on Sunday, with Erling Haaland’s controversial second-half goal settling a fiercely contested Manchester derby.

City were forced to play with 10 men for more than an hour after Phil Foden was sent off in the first half for kicking out at Manchester United captain Bruno Fernandes. Despite their numerical disadvantage, Enzo Maresca’s side remained disciplined and eventually found the breakthrough through Haaland.

The decisive moment arrived around the hour mark when Haaland found the net, only for the assistant referee to immediately raise the flag for offside.

However, after a lengthy VAR review, the decision was overturned and the goal was awarded. Replays showed that Patrick Dorgu’s outstretched foot had played Haaland onside, while Enzo Fernández’s position was deemed not to constitute interference with play.

The decision sparked furious reactions from the home supporters, with Manchester United players also questioning whether Fernández’s position had interfered with their ability to defend the move.

United were handed a major advantage by Foden’s dismissal but failed to capitalise on it. Marcus Rashford and Kobbie Mainoo both struck the woodwork as the hosts desperately searched for an equaliser.

Manchester City’s defence held firm during the closing stages, while goalkeeper Gianluigi Donnarumma produced a crucial late save to deny Bryan Mbeumo and preserve the visitors’ clean sheet.

The victory was particularly impressive given City’s lengthy spell with 10 men and handed Maresca a huge win in his first Manchester derby as City manager.

For Haaland, the goal continued his remarkable record against Manchester United and proved enough to give City all three points in one of the most controversial derbies in recent years.

The result keeps Manchester City’s perfect Premier League start intact, with the champions moving onto 12 points from four matches, level with Arsenal at the top of the table but behind the Gunners on goal difference. Manchester United, meanwhile, remain on just four points after four matches.

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