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Trump Launches ‘Reciprocal Tariffs’ Targeting Allies, Adversaries

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US President Donald Trump inked plans Thursday for sweeping “reciprocal tariffs” hitting both allies and competitors, in a dramatic escalation of an international trade war that economists warn could fuel inflation at home.

Speaking in the Oval Office, Trump said he had decided to impose the reciprocal duties, telling reporters that US allies were often “worse than our enemies” on trade issues.

The levies would be tailored to each US trading partner and consider non-tariff factors including value-added tax (VAT).

“Major exporting nations of the world attack our markets with punishing tariffs and even more punishing non-tariff barriers,” Trump trade advisor Peter Navarro told reporters, taking aim at the European Union in particular over VAT.

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Washington will start by examining economies with which the United States has its biggest deficits or “most egregious issues,” said a White House official.

“This should be a matter of weeks, in a few months, but not much longer than that,” the official added, speaking on condition of anonymity.

Trump acknowledged Thursday that US prices “could go up” due to tariffs, but he expressed confidence that they would ultimately ease.

Trump has announced a broad range of tariffs targeting some of the biggest US trading partners since taking office, arguing that they would help tackle unfair practices — and in some cases using the threats to influence policy.

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The president has referred to tariffs as a way to raise revenue, remedy trade imbalances, and pressure countries to act on US concerns.

The White House official said Thursday that the United States has been “treated unfairly,” saying a lack of reciprocity is a reason behind the country’s “persistent annual trade deficit in goods.”

With the memo Trump signed on Thursday, the US Trade Representative, commerce secretary and other officials will work to propose remedies on a country-by-country basis.

Trump’s announcement came hours before he was due to meet Indian Prime Minister Narendra Modi in Washington.

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Analysts have warned that reciprocal duties could bring a broad tariff hike to emerging market economies such as India and Thailand, which tend to have higher effective tariff rates on US products.

Countries such as South Korea that have trade deals with Washington are less at risk from this move, analysts believe.

Inflation concerns

Cost-of-living pressures were a key issue in the November election that saw Trump sweep to power, and the Republican has promised to swiftly reduce prices.

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But economists caution that sweeping tariffs on US imports would likely boost inflation, not reduce it, in the near term and could weigh on growth eventually.

Trump’s deputy chief of staff for policy Stephen Miller previously said countries use the VAT to get an unfair trade advantage, although analysts have challenged this characterization.

During election campaigning, Trump promised: “An eye for an eye, a tariff for a tariff, same exact amount.”

For example, if India imposes a 25-percent tariff on US autos, Washington will have a 25-percent tariff as well on imports of autos from India, explained a Nomura report this week.

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The consideration of non-tariff factors might shift this calculus.

Modi will hold talks with Trump on Thursday and New Delhi offered some quick tariff concessions ahead of his visit, including on high-end motorcycles.

“Trump’s objective of implementing reciprocal tariffs is to ensure fair treatment for US exports, which could indirectly also address US trade imbalances with partner countries,” analysts at Nomura said.

Among Asian economies, India has a 9.5-percent weighted average effective tariff on US exports, while there is a three-percent rate on India’s exports to the United States.

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Thailand has a 6.2-percent rate and China a 7.1-percent rate on US products, Nomura noted.

Higher tariffs are often imposed by poorer countries, who use them as a tool for revenue and protection because they have fewer resources to impose non-tariff barriers, Cato Institute’s Scott Lincicome earlier told AFP.

AFP

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Lagos provides vaccinations for individuals intending to participate in 2025 Hajj pilgrimage

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The Lagos State Muslim Pilgrims Welfare Board has commenced the process of vaccinating its intending pilgrims against polio, meningitis and yellow fever ahead of the 2025 Hajj exercise in the Kingdom of Saudi Arabia.

The vaccination which started on Wednesday, April 16 (day one) at the Shamsi Adisa Thomas (SAT) Mosque Hall, GRA, Ikeja, has intending pilgrims from Agege, Amuwo Odofin, Badagry and Mushin Local Government Areas being attended to.

According to the roster of the exercise, intending pilgrims from other local government areas would be attended to as scheduled. On day two (Thursday, April 17) intending pilgrims from Ajeromi Ifelodun, Eti-Osa, Kosofe and Oshodi Isolo would be vaccinated while Alimosho, Epe, Ifako Ijaiye and Lagos Mainland would have theirs on Tuesday, April 22.

Apapa, Surulere, Ikeja and Lagos Island would be attended to on day four, Wednesday, April 23 while on day five, Thursday April 24, Shomolu, Ojo, Ikorodu and JAIZ Bank, NIA and Royal intending pilgrims would be vaccinated. The last day, Monday April 28, it would be the turn of government officials and outstanding/left over pilgrims.

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The Board Secretary, Mr. AbdulHakeem Ajomagberin said that the vaccination exercise was in fulfillment of the requirements for international travels. He therefore urged the intending pilgrims to make themselves available on the date appointed for their respective local governments.

He added that officials of the Port Health Service (Federal Ministry of Health) would provide them with the yellow card after the vaccination.

Meanwhile, the State Government has constituted a 13-man central working committee to oversee and ensure the success of the 2025 Holy pilgrimage in the Kingdom of Saudi Arabia.

According to a statement signed by the Public Affairs Officer, Taofeek Lawal, the Board Secretary said that the Special Adviser to the Governor on Islamic Matters, Dr. Ahmad Abdullahi Jebe has been appointed as the Chairman of the committee. He also added that 21 Schedule Officers (Coordinators) have been appointed for the Local Government Areas of the state.

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He emphasized that while the committee would be responsible for the Hajj operation both in Nigeria and the Holy Land, by ensuring that everything necessary is put in place for the pilgrims to perform the Hajj rites both in Makkah and Madinah seamlessly,
the coordinators would work closely with the committee to ensure that the needs of the pilgrims are met and their journey made as comfortable as possible.

Ajomagberin who was recently appointed as the Board Secretary, explained that each member of committee would chair the sub-committees constituted for the success of the pilgrimage exercise.

According to him the sub-committees and their chairmanship includes, Imam (Engr.) Shakiru Ayinde Gafar (Muna, Madinah and Arafah); Prof. Kabir Paramole (Dawah & Sensitization); Dr. (Mrs.) Faosat Dabiri (Medical); Alh. Yusuf Ara (Bags and Luggages); Alh. Mojeed Sanni (Transportation); Hon. Waheed Lolade Shonibare (Airlifting and Manifest) and Hon. Mayegun Musiliudeen (Accommodation).

Others are; Alh. Agoro Ibrahim (Security); Issa Akeredolu (Media and Publicity); Imam Nurain AbdulAzeez (Tribunal); Alhaja Oluwakemi Okunola and Alhaja Idayat Elegbede (Special duties) and Board Secretary (Passport and Visa).

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He listed the appointed Local Government Coordinators as Anileleye Maimuna (Kosofe); Ige Kolawole (Agege); Adele-Sanyaolu Mariam (Amuwo-Odofin); Saidat Alogba- Kalejaye (Ikorodu); Musa Lawal (Eti-Osa); Ajarat Sanusi-Alaka (Alimosho); Khadijat Oluwa-Adegbola (Surulere); Fatimah Jaji (JAIZ Bank, NIA and Royal); Ahmed Rukayat (Lagos Mainland); Muhammed Abiola (Ikeja); Hassan Ismaila (Ojo) and Suraj Akinyemi (Apapa).

Others are Lawal Abdullahi (Epe); Abubakar Aliyu (Oshodi Isolo); Abubakar Lawal (Lagos Island); Bisiriyu Lookman (Ajeromi Ifelodun); AbdulSalam Silifat ((Mushin); Gafar Mujib (Badagry); Taiwo Anibaba (Shomolu); Bello Rashidat (Ifako Ijaye) while Murtador Saudat will coordinate the Government officials.

Ajomagberin said that the committees and LGA coordinators are expected to work collectively as a team with other stakeholders to address every aspect of the pilgrimage exercise with a view to ensuring a smooth, convenient and remarkable experience for the pilgrims.

Taofeek Lawal
Asst. Director
(Public Affairs)

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CBN gov, legal adviser sued for contempt

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The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, have been sued for contempt of court at the Federal High Court in Abuja over their alleged refusal to comply fully with a Supreme Court judgment.

Melrose General Services, the applicant, filed a contempt suit marked: FHC/ABJ/CS/532/2025, against Cardoso, Kofo, the Central Bank of Nigeria, the Economic and Financial Crimes Commission, and the Minister of Finance, listed as 1st to 5th respondents respectively.

The applicant claims that the respondents have failed to release N220 million owed to them, despite the Supreme Court’s judgment reversing the earlier forfeiture of the funds.

Meanwhile, the suit stems from the controversial Paris Club Refund, which involved payments to consultants who rendered services to the Nigerian Governors’ Forum.

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In June 2024, the Supreme Court overturned a previous forfeiture order affecting Melrose General Services Limited, directing the release of frozen funds, including N1.22bn held in Melrose’s bank account and N220m transferred to Wasp Networks and Thebe Wellness as loans and investments.

The court ruled that the EFCC had failed to prove the funds were proceeds of fraud, as alleged, and ordered the release of the full amounts to the rightful owners.

However, nearly a year after the Supreme Court’s decision, Melrose alleges that while the CBN has refunded N1.22bn, the N220m remains unpaid.

Through its counsel, Chikaosolu Ojukwu (SAN), Melrose argues that the refusal to comply with the court’s directive constitutes contempt of court. The firm contends that the partial compliance undermines the authority of the Supreme Court.

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In its defence, the CBN’s legal team, led by Abdulfatai Oyedele, claims the Supreme Court directed payment of the N220m to the original accounts of Wasp Network Limited and Thebe Wellness Services, not to Melrose.

Oyedele further argued that Wasp Network has requested N200m, while Thebe Wellness has yet to claim N20m.

The EFCC, represented by M.A. Babatunde, filed a motion for misjoinder, asserting it should not be a party to the case.

Justice Inyang Ekwo of the Federal High Court in Abuja will resume hearing the matter on June 4, 2025, to determine whether the CBN and its officials have wilfully disobeyed the Supreme Court or if their actions align with the judgment’s interpretation.

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US Consulate supports training initiatives for emerging Nigerian journalists

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The United States Consulate General in Lagos is supporting a year-long journalism capacity-building programme for young Nigerian reporters, in partnership with the Media Career Development Network.

The initiative, tagged the Bi-Monthly Journalism Clinic, is designed for journalists with fewer than five years of reporting experience.

It aims to equip early-career reporters with critical skills in data-driven investigative journalism, digital tools, and ethical reporting practices.

According to a statement from the organisers on Friday, the training will feature intensive workshops in Lagos, covering key topics such as transparency and accountability in governance, financial journalism, public health reporting, and the ethical use of anonymous sources.

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The programme will also explore how journalists can leverage social media for impactful storytelling and gain access to public data.

Speaking on the initiative, US Consulate Public Affairs Officer, Julie McKay, said the training reflects the US government’s commitment to strengthening media capacity in Nigeria.

“Press freedom and a professional, responsive, and independent media are critical parts of any democracy.

“By providing timely and accurate information, journalists give citizens a voice allowing them to engage in important dialogue and hold leaders accountable,” McKay stated.

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Executive Director of the Media Career Development Network, Lekan Otufodunrin, said about 150 journalists are expected to benefit from the training.

“Participants will gain advanced reporting skills that enhance their ability to inform, educate, and hold leaders accountable,” Otufodunrin said.

The programme also includes mentorship opportunities with senior journalists and subject matter experts.

Applications can be submitted via https://bit.ly/4lB6Tpx.

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Selected applicants will be notified ahead of each bi-monthly session.

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