Nigeria-US Trade Row: Okonjo-Iweala, Senator Sani Differ on Appropriate Response
The decision of US President Donald Trump to impose a 14% tariff on Nigerian exports has triggered a heated debate on the best manner in which Nigeria can react to the move.
World Trade Organization (WTO) Director-General, Ngozi Okonjo-Iweala, and frontline All Progressives Congress (APC) Senator, Shehu Sani, have shared divergent views on how Nigeria should react to the move.
Okonjo-Iweala, in a post on her official X (formerly Twitter) handle, expressed concern over the implication of the US action, that it had the potential to significantly affect world trade and economic development.
She mentioned the importance of not allowing a “tit-for-tat” tariff war, that this would be disastrous for the world economy.
“We can’t get into a tit for tat tariff war. This will be catastrophic for the world economy,” she tweeted.
Senator Sani, on his part, was more direct in his demand for a response to the imposition of tariffs, but not in the form of a full-blown trade war. In a brief but biting response on his official X handle, Sani tweeted: “Tit for non tat recommended.”
The suggestion here is that Nigeria must do something to protect its interests, but in a less provocative and more measured manner.
The exchange between Okonjo-Iweala and Sani has established a national debate on the most suitable position for Nigeria to adopt in retaliating against global trade controversy. While Okonjo-Iweala’s call for caution is meant to maintain global economic stability, Sani’s utterance is an articulation of the desire for a more firm but measured response in protecting Nigeria’s interest.
The 14% tariff on Nigerian exports is Trump’s attempt to boost the development of the US economy. The move has been highly criticized, and most people have argued that it will have far-reaching consequences on world trade and economic development.
While the argument rages on, Nigerians are waiting with bated breath for the government’s reaction to the imposition of tariffs by the US. The federal government is yet to issue an official statement regarding the issue, but it is likely to take a strong position to defend the economic interests of the country.
The contrast of views between Okonjo-Iweala and Sani highlights the complexities of international trade and the necessity of a multilateral approach in the resolution of trade disputes.
While Okonjo-Iweala’s caution is guided by her experience as an international trade expert, Sani’s belligerence is an expression of the need for Nigeria to protect its interests amidst pressures from outside.
As matters take their course, one thing is sure: Nigeria must navigate the complex web of international trade cautiously and strategically to protect its economic interests and promote sustainable development. The government must consider the implications of how it responds to the US imposition of tariffs and ensure that it acts from a deep understanding of the international trade ecosystem.
