BUSINESS DAY
The world is closely watching as the U.S. goes to the polls on November 5 to choose a new president during its general elections. For a nation like Nigeria, which shares close political and economic ties with the world’s largest economy, its future trade relations, investment inflows, and regulatory landscape could shift significantly depending on who takes the White House: Republican Donald Trump or Democrat Kamala Harris.
At a forum by Udo Udoma & Belo-Osagie (UUBO) partnering with Mercury Public Affairs on Thursday, policy experts and U.S.-served congressmen provided some insight into how Trump or Harris’s policies could play out in Nigeria when either are handed the presidential baton. While both candidates’ approaches will create ripples across global markets, the implications for Nly
Economic policies and trade
Trump’s protectionist agenda, characterised by tariffs and renegotiated trade agreements, raised concerns about the potential strain on U.S.–Africa trade. Between 2008 and 2018, trade between the two regions dropped from $100 billion to $41 billion.
A second Trump term could exacerbate these trends, especially with the looming expiration of the African Growth and Opportunity Act (AGOA) in 2025, which currently grants tariff-free access for Nigerian exports.
“Trump’s ‘America First’ stance could lead to higher tariffs and more trade barriers, negatively affecting Nigeria’s exports to the U.S.,” says Ashleigh Theophanides, Chief Sustainability Officer at Deloitte.
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