Tariff

In an important development this week, South Africa's Department of Trade, Industry and Competition announced that the nation has formally requested an extension to finalize a crucial trade agreement before the imposition of a hefty 31% tariff on U.S. imports from South Africa. This new tariff, if enacted, could drastically alter the landscape of trade relations between these two nations. As part of their negotiation strategy, South African officials are advocating for a significant reduction in the tariff,…

The Recent Decline in Internet Usage in Nigeria: A Deeper Look Recent data from the Nigerian Communications Commission (NCC) presents a compelling, if somewhat alarming, narrative about internet usage in the country. Between January and April, total internet consumption dropped from an impressive 1,000,930.60 terabytes to 983,283.43 terabytes. This translates to a notable 1.76 percent decline over a mere three months. How often do we stop to consider what these figures mean for everyday Nigerians?…

China has firmly stated its rejection of U.S. claims regarding alleged violations of a comprehensive tariffs agreement, indicating that tensions between these two economic giants are once again on the rise. "Accusations without merit undermine the foundation of mutual respect," noted a spokesperson from the Chinese government. Last month, during discussions between senior officials in Geneva, both nations had reached a consensus to reduce exorbitant tariffs for a period of 90 days. This was seen as a hopeful step toward…

Madagascar stands at a crucial crossroads as it seeks to deepen its economic ties with the United Arab Emirates (UAE). The island nation is working diligently to attract investments that aim to invigorate its tourism and energy sectors. Such a partnership has become increasingly important in light of recent trade challenges with the United States, particularly steep tariffs that threaten its economic stability. As of 2024, the United States ranks as Madagascar's third-largest trading partner, trailing only…

A U.S. trade court has effectively halted President Donald Trump's proposed tariffs, ruling that the president exceeded his authority by imposing broad duties on imports from countries that sell more to the United States than they purchase from it. This pivotal decision highlights the delicate balance of power as outlined in the U.S. Constitution. The Court of International Trade emphasized that Congress holds exclusive authority to regulate international commerce, a power that the president's emergency powers cannot…

What lies behind President Donald Trump's announcement of a 50% tariff on European Union (EU) imports? It seems the answer isn't straightforward, leaving many speculating. This unexpected policy shift emerged just as Washington was transitioning into a long Memorial Day weekend, catching traders off-guard. As the implications rolled out, financial markets on both sides of the Atlantic responded rapidly—though not with the panic we've seen in past tariff-induced downturns. The recent tariffs on China escalated rapidly,…

The European Commission is calling on the United States to approach trade talks with respect rather than intimidation, following President Donald Trump’s proposal for a 50% tariff on EU goods. EU Trade Chief Maroš Šefčovič emphasized that the European Union is committed to negotiating a deal beneficial for both parties. He engaged in discussions with U.S. Trade Representative Jamieson Greer and U.S. Commerce Secretary Howard Lutnick to seek common ground. President Trump’s suggestion of imposing higher tariffs on…

The Taoiseach has expressed significant concern over the potential consequences of US President Donald Trump's threat to impose 50% tariffs on the EU starting in June, stating that such a move would be "very damaging." Following Mr. Trump's announcement, European stocks experienced a sharp decline, and the euro saw a drop in value. Additionally, eurozone government bond yields fell considerably, indicating a ripple effect across global markets. On his Truth Social platform, Mr. Trump remarked, "The European Union, which…

Beijing is currently "evaluating" an offer from Washington regarding talks over the substantial 145% tariffs imposed by US President Donald Trump. The Commerce Ministry of China has cautioned the United States against engaging in "extortion and coercion," highlighting the complexities of negotiation. Both Washington and Beijing seem entangled in a high-stakes game over tariffs, with neither side willing to appear submissive or be the first to initiate discussions amid a trade war that has unsettled global markets and…

MTN Nigeria's Robust Q1 2025 Performance In an impressive display of resilience and strategic maneuvering, MTN Nigeria reported a staggering revenue of N1 trillion for the first quarter of 2025. This achievement signifies a remarkable 40.5% increase year-on-year, a substantial leap from the N752.9 billion recorded in Q1 2024. One can't help but wonder: What does this surge mean for the broader telecommunications landscape in Nigeria? The driving force behind this robust performance can primarily…