Members of the organised private sector have warned that the United States’ decision to impose a 12.5 per cent tariff on certain Nigerian exports will affect some exporters despite exemptions for key raw materials. They urged the Federal Government to move swiftly to address regulatory gaps and seek a review of the measure.
The United States announced the tariff on July 23 as part of a new trade measure targeting countries it said had failed to prohibit the importation of goods produced with forced labour.
The tariff affects imports from 60 economies, including Nigeria. Countries such as India, Indonesia, Malaysia, Mexico and the United Kingdom will pay a lower 10 per cent rate after adopting or committing to implement prohibitions on imports linked to forced labour.
Speaking to The PUNCH on the development, the President of the Nigerian-American Chamber of Commerce, Sheriff Balogun, said the chamber supported global efforts to
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