President Donald Trump has defended his administration’s significant tariff increases on several countries, including Nigeria and China, asserting that the United States is reclaiming its economic power after years of exploitation.
The new tariffs target a wide range of imported goods across various sectors, and Trump cautioned nations against retaliation, warning that it could lead to further action.
Nigeria is now among the countries facing heightened tariffs under Trump’s revised trade policy.
Previously reported, this initiative aims to address trade imbalances and protect American industries from what the Trump administration labels as unfair foreign practices. Goods affected in this latest round of tariffs include oil, leather, and agricultural products.
In a statement shared on social media, Trump insisted that the tariffs are not only effective but long overdue.
“Oil prices are down, interest rates are down (the slow-moving Fed should cut rates!), food prices are down, there is no inflation, and the historically exploited USA is now bringing in billions of dollars each week from the countries that have been taking advantage of us through existing tariffs,” he stated.
“This comes despite the fact that the biggest offender, China, whose markets are collapsing, has just increased its tariffs by 34% on top of its already exorbitant tariffs (Plus!), ignoring my warnings to these countries against retaliation.”
“They’ve profited enough for decades by exploiting the Good Ol’ USA!” he added.
Trump did not shy away from blaming previous administrations for what he terms decades of weakness.
“Our past ‘leaders’ are to blame for allowing this and so much else to happen to our country. Make America great again!” he declared.
The tariffs are part of Trump’s broader economic agenda, which prioritises domestic manufacturing and aims to reduce US reliance on foreign imports.
However, critics caution that this policy could trigger trade wars and lead to increased prices for American consumers.
