₦airaland Forum

MadPolitician:
Nigeria should go ahead and reciprocate by banning imports from America. There is nothing they buy from us anyways. They used to buy oil from Nigeria, but that has stopped around the days of NADECO. There is nothing we import from the US that we can not import at a cheaper rate from asia. So let the trade war start. We are already down, so why fear further falls?

I think you should rethink what you are saying...

Because I don't think you understand what's going on.

First of all Nigeria is almost fully a consumption based economy. Nigeria heavily consumes imports... even up to second third hand category imports.

Shifting consumption demand to China will not make any difference because China has also been hit with higher tariffs, so as a market adaptation mechanism China (Asia) will also need to adjust their pricing, because like it or not, there is a global supply chain... which won't do Nigeria any good.

These tarriffs will cause a global market readjustment and if Nigeria still remains a consumption economy, either ways it will become very difficult for Nigeria, as these tariffs will majorly affect consumer economies... of which Nigeria is culprit.

sleek214:
You don't know anything. This tariff will discouraged importation and boast local production. These countries need America market more than America need them. Most of these countries will go into recession. The US have been Father Christmas for far too long. Forget all these bias analysis you hear on CNN and other anti trump western TV stations.
On the bright side, it might be good for Nigeria because most of these countries will start looking for other markets (countries) to do business with, Nigeria with its large population and love for foreign goods
Bwill be a good market for them

Two things. No country in the world has ALL the inputs it requires in manufacturing industrial or consumer goods. All these need to be imported tariff or no tariff

Secondly Nigeria does not want to be a dumping ground for US goods. Apart from the oil sector and USAid activities, the US has done much less for NG infrastructure and productivity than even China.

Yes to US software and services. No to consumer goods.

Acidosis:
APC crooks and faux loyalty 🤣

You left your home land for perpetual criminals to govern while you settle for insignificant crumbs. Who is the bigger f o o l? You or the man you quoted?

Is Tinubu the owner of Nigeria?

It's only a foolish person that wld use left hand to describe his father's house.

You are Indeed a foolish one....

sleek214:
You don't know anything. This tariff will discouraged importation and boast local production. These countries need America market more than America need them. Most of these countries will go into recession. The US have been Father Christmas for far too long. Forget all these bias analysis you hear on CNN and other anti trump western TV stations.
On the bright side, it might be good for Nigeria because most of these countries will start looking for other markets (countries) to do business with, Nigeria with its large population and love for foreign goods will be a good market for them

what do you think made America market so good?

Is it not the dollar?
They made dollar a global currency.

If the rest of the world targets the dollar value, you think anyons will be willing to take their market to a country with valueless currency?

What makes 300million people more valuable than say 1.4billion people in Africa if not the value of currency?

Very good. You can clearly see a pattern. Those that tax 10% were taxed 10% too and those that thought they were smart were just given a taste of their own medicine.

MadPolitician:
Nigeria should go ahead and reciprocate by banning imports from America. There is nothing they buy from us anyways. They used to buy oil from Nigeria, but that has stopped around the days of NADECO. There is nothing we import from the US that we can not import at a cheaper rate from asia. So let the trade war start. We are already down, so why fear further falls?

Reciprocate what exactly?, did you even read the article to the very end?. Nigeria has placed 27% tariff on every goods that came from the United States to Nigeria and US retaliated by increasing their own tariff on our goods to 14%. Even at that we still have a big margin between what we charge them and what they charge us in return. That's a massive 13% difference and you are there blabbing.

sleek214:
You don't know anything. This tariff will discouraged importation and boast local production. These countries need America market more than America need them. Most of these countries will go into recession. The US have been Father Christmas for far too long. Forget all these bias analysis you hear on CNN and other anti trump western TV stations.
On the bright side, it might be good for Nigeria because most of these countries will start looking for other markets (countries) to do business with, Nigeria with its large population and love for foreign goods will be a good market for them

Good analysis

The current occupants of the White House is insane!

InfoGuru118:
https://news360ng.com/trump-imposes-14-tariff-on-goods-exported-from-nigeria-others/

SalamRushdie:
You are not smart one bit

abeg no mind am

SalamRushdie:
You are not smart one bit

🤣

sleek214:
You don't know anything. This tariff will discouraged importation and boast local production. These countries need America market more than America need them. Most of these countries will go into recession. The US have been Father Christmas for far too long. Forget all these bias analysis you hear on CNN and other anti trump western TV stations.
On the bright side, it might be good for Nigeria because most of these countries will start looking for other markets (countries) to do business with, Nigeria with its large population and love for foreign goods will be a good market for them

Thank you! 15 year old whiskey for you!

InfoGuru118:
https://news360ng.com/trump-imposes-14-tariff-on-goods-exported-from-nigeria-others/

Nigerians in the US that voted for Trump, una see una life for outside, those costs are going to be passed straight on to you.

Congratulations to you all.

The last time US tried this, they went into the great depression. History is about to repeat itself. It'll be much more painful this time.

sleek214:
You don't know anything. This tariff will discouraged importation and boast local production. These countries need America market more than America need them. Most of these countries will go into recession. The US have been Father Christmas for far too long. Forget all these bias analysis you hear on CNN and other anti trump western TV stations.
On the bright side, it might be good for Nigeria because most of these countries will start looking for other markets (countries) to do business with, Nigeria with its large population and love for foreign goods will be a good market for them

One of the few sensible comments here.

dominique:
Americans are groaning about inflation and now prices are about further go up. Jobs are being cut all over the place, mass/self deportation is starting affect farmers who rely on cheap labour from migrant workers and some are on the verge of bankruptcy. Tinubu's shege will be child's play compared to the type of shege average Americans will see in this administration. This is how he wants to make America great again?

Very good one from Trump. Let's see how these useless politicians will continue sharing the gains from Tariff increments. Successive governments have made importing goods from the US expensive when they know that we do not have comparative advantage in those sectors. Cars from the US have become expensive over the years because our lazy and clueless politicians want to milk us dry through Tariffs. Instead of focusing on sectors where you have comparative advantage like the oil production, agriculture, etc they prefer the easy way out like taxing the masses excessively. Fix the refineries and ban oil importation, fix insecurity, revolutionize agriculture and ban food imports. Then focus on massive export of oil and agricultural products that God has blessed us with but, they said no it has to be increased taxes and tariffs. Milk the people dry, make cars, drugs and other products where we do not have comparative advantage expensive so, that we can have easy money to embezzle. These politicians don't give a damn about the common man and they don't give a damn about simple economics.

seunmsg:
A global trade war can only lead to a global economic crisis and recession. Inflation in America will go out of control. Americans will live to regret the day they voted for Trump.

Honestly. I still can't believe they voted for him after seeing what happened in his first term. They're already regretting voting for him. Some of his supporters will agree with anything he does sha.

justwise:
American companies producing locally will be expensive for Americans. American companies are benefiting from cheap labour when goods are produced outside America. Nobody wins tariff wars as it affects both countries.

Trump is dumb.

Thank you. Shocked to see how many people liked that comment.

Reference:
The bottom line few acknowledge is the simple fact.

Where will America get the money to buy the goods pouring into its shores from around the world if it produces less and less year on year while their debs reach unsustainable, critical levels. This is just a reality check.

It is like a business having a series of clients but exploits the one that comes around regularly and subscribes the most. That in itself is a dangerous strategy for the said business because the day the big client defaults, goes away or wakes up to the reality of the exploitation it's curtains.

The client may suffer the loss of service but the business will almost certainly go under. The balance of trade with the rest of the world, the balance of tariffs with the rest of the world is pushing this scenario.

Damn, I didn't even think about this, there are just so many things wrong with this policy

GloriousGbola:
it is actually funny that Nigerians who have seen first hand how tariffs failed are cheering this

The average Nigerian knows nothing about the country's politics and economy. To even narrow it down more, only a select few knows how the economy works compared to the majority who knows more about politics and nothing about the economy

tunjijones:
You call Nigeria useless? You call your home land useless?

Bro you are a big fool.

Nigeria under Tinubu is a useless entity

Seeing the tarrifs on US goods by other countries tells me why Trump is angry. The charges are too high. His actions make sense to me.

dominique:
Americans are groaning about inflation and now prices are about further go up. Jobs are being cut all over the place, mass/self deportation is starting affect farmers who rely on cheap labour from migrant workers and some are on the verge of bankruptcy. Tinubu's shege will be child's play compared to the type of shege average Americans will see in this administration. This is how he wants to make America great again?

You sound like a CNN bot. Even in a depression or total economy collapse, they can never feel what Nigerians are feeling under Tinubu.

What Trump is doing is just to boost local production because last government preferred to outsource everything.

The avg. American is rich and you that work for Americans know that landing just one as a client can change your life here in Africa. Whole time he’s spending chicken change.

The avg American has huge purchasing power that’s why everyone wants to sell to them. Nigerians get purchasing power? Can’t even buy data

bepositive11:
Thank you. Shocked to see how many people liked that comment.

Some online users don’t really think through before clicking LIKE.

This trade war dumb Trump started will benefit China more as many will rather buy made in China than American made.

There is a reason why American companies prefer producing their products outside America, if they decided to produce locally then they have to face several issues… high wage demand, trade unions compliance, difficulties employing locally (Trump has deported immigrants doing those low paying jobs) .


Already American farmers and construction companies are struggling to get workers because of Trump immigration policies.

Is there a reason why Lesotho is charging 99% tariff for goods entering the US 🤔

ChiefOkporghe:
China = Dragon
Russia = Bear
USA = Eagle

Panda could be Chinese too ?

hotwax:
What people don't seem to understand is that Trump is, rightly so, working to unravel existing unfair trade barriers and recalibrate trade relations by ending nearly 30 years of unsustainable American economic loses and security protections.

Here's an example. American products sold in Europe are taxed at a 30% (sometimes more) rate but European products coming into the US are taxed by America between 10-15% surtax rate. (That's what "trade imbalance" means.) This is not only US made vehicles, the situation is similar in sectors such as food, beverages & other agricultural products.

Rather than rant, World nation leaders need to push for negotiations aimed at equalising tariff barriers & look for ways to build re-invigorated economic & security alliances. One that isn't as lopsided as it is now. They need to acknowledge that Trump's ideas aren't revolutionary but similar to their own -- if you want to do business in our country, create jobs & production sites here. It's not only reliant on getting key trade partners to reduce their protective barriers but to force companies, like take Honda for instance, having them scrap plans for shifting production of new model Honda's to Mexico and instead make them in Indiana, USA.

After all, Trump has persuaded Eli Lilly & big chipmaker Taiwan Semiconductor to invest billions in the United States, when their products in the past were shipped in from abroad.

The most sensible post so far.
Negotiations is it.


Nigeria for example is experiencing severe economic contraction affecting all sectors.

Tell me if there is no service provider in Nigeria today who is not negotiating with his clients or customers to retain patronage.

Personally I am giving out discounts on my services unheard off just a couple of years ago and just last week I warned my vendors that they should watch how they raise the cost of their services to me or I will look elsewhere no matter how long our relationship has been. Despite inflation and contracting incomes there is a limit to which I can tolerate rising bills.

That is exactly what America is trying to do. It is telling the world to come and talk about being fair. That our people cannot continue to borrow to buy your stuff and you are reserved about buying ours.

justwise:
Some online users don’t really think through before clicking LIKE.

This trade war dumb Trump started will benefit China more as many will rather buy made in China than American made.

There is a reason why American companies prefer producing their products outside America, if they decided to produce locally then they have to face several issues… high wage demand, trade unions compliance, difficulties employing locally (Trump has deported immigrants doing those low paying jobs) .


Already American farmers and construction companies are struggling to get workers because of Trump immigration policies.

Yes, all that is true.
But that is where negotiations come in at all levels. Labour/wage negotiations, insurance negotiations, even taxes and enterprise laws. These are the next things that will have to be freed up to make the system work.

The fundamental question they are asking themselves is: If all the jobs go to foreigners and all the factories relocate abroad, where will the jobs and the paycheques and the wealth come from to buy the goods the world produces.

Can anyone answer this simple but fundamental question. If you are not working how can you be shopping.

elvisco10:
you when bi boy boy till death...40k politicians boy

Yes o, 40k United States Dollars Boy .

Orch1981:
Nigeria is never a great country before

I won’t blame u for your ignorance, person like u wey never comot The Federal Republic of Nigeria for their life, wouldn’t know any better.

yinkeys:
Panda could be Chinese too ?

No.
Chinese is known as the Red Dragon

JuanDeDios:
That substitution can't happen overnight. Not across the board anyway. Also bear in mind that there's a reason those things were being imported in the first place. (If you recall your SS2 economics, it's called "comparative cost advantage).

Dats right.

bigiyaro:
this your noise loud pass Canadian loud....