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Trump’s tariffs will make the US poorer.
News

Trump’s tariffs will make the US poorer.

ByByMax NwogboFeb 27, 2025
Ruben Amorim: Man United boss battles injuries ahead of Ipswich Town clash.
Sport

Ruben Amorim: Man United boss battles injuries ahead…

ByByMax NwogboFeb 27, 2025
Singaporeans suffer record $822M in scam losses.
Crypto

Singaporeans suffer record $822M in scam losses.

ByByMax NwogboFeb 27, 2025

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Recent reports indicate that U.S. President Donald Trump plans to impose a 25% tariff on automobile imports, a move that could have significant global repercussions. While the primary targets of these tariffs are countries exporting vehicles to the U.S., such as Canada, Mexico, and Germany, the ripple effects may extend to markets like Nigeria. Potential Impact on Vehicle Prices in Nigeria: Increased Import Costs: Nigeria imports a substantial number of used vehicles, commonly known as "Tokunbo" cars, from the U.S. With the proposed tariffs potentially increasing vehicle prices in the U.S., Nigerian importers may face higher acquisition costs, which could be passed on to consumers. Supply Chain Disruptions: The global automotive supply chain is highly interconnected. Tariffs may lead to production adjustments by manufacturers, affecting vehicle availability and prices in various markets, including Nigeria. Currency Fluctuations: Trade tensions can lead to currency volatility. For Nigeria, which relies on the U.S. dollar for international transactions, a stronger dollar could make imports more expensive. It's important to note that while these tariffs are aimed at imports into the U.S., the interconnected nature of global trade means that markets worldwide, including Nigeria, could experience indirect effects. Stakeholders in Nigeria's automotive industry should monitor these developments closely to assess and mitigate potential impacts. Global Reactions to Proposed U.S. Auto Tariffs
Business
BREAKING NEWS: Vehicle prices in Nigeria set to increase as US President, Donald Trump plan to impose automobiles tariffs “in the neighborhood of 25 per cent”.

Recent reports indicate that U.S. President Donald Trump plans to impose a 25% tariff on…

ByByMax NwogboFeb 20, 2025
FBI Arrests US-Based Nigerian Pastor For Multimillion-Dollar COVID-19 Fraud, Links Him To Detained Monarch, Apetu Of Ipetumodu.
News
FBI Arrests US-Based Nigerian Pastor For Multimillion-Dollar COVID-19 Fraud, Links Him To Detained Monarch, Apetu Of Ipetumodu.

Recent reports indicate that the Federal Bureau of Investigation (FBI) has arrested Joseph Oloyede, the…

ByByMax NwogboFeb 20, 2025
Assault: Court grants Portable N2m bail, adjourns to March 5
Politics
Assault: Court grants Portable N2m bail, adjourns to March 5.

Nigerian singer Habeeb Okikiola, popularly known as Portable, has been granted bail by an Ogun…

ByByMax NwogboFeb 20, 2025
Babangida regrets annulling June 12 presidential election.
News
Babangida regrets annulling June 12 presidential election.

Former Nigerian military president, General Ibrahim Badamasi Babangida, has publicly expressed regret over the annulment…

ByByMax NwogboFeb 20, 2025

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