AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
As at October 2026, products of Nigeria entering the US face a 12.5% tariff under Section 301 of the Trade Act of 1974, applied from 12:01 a.m. eastern time on 24 July 2026 to all products of Nigeria except those listed in the USTR notice's annexes. It is charged in addition to the ordinary HTS duty, as far as the published text shows, and it replaced a temporary 10% surcharge that ran from 24 February to 24 July 2026.
The rate today, and where to confirm it
On 28 July 2026 the Office of the US Trade Representative (USTR) published its final action in Section 301 investigations of 60 economies, which found that each had failed to adopt or effectively enforce a ban on imports made with forced labour. Nigeria is one of the 60. The notice says USTR "has determined to impose 12.5 percent tariffs on products of Nigeria, except as provided in Annex I and Annex II, Part A."
- Rate
- 12.5% ad valorem on products of Nigeria
- Legal basis
- Section 301 of the Trade Act of 1974
- Applies to
- goods entered for consumption, or withdrawn from warehouse, on or after 12:01 a.m. eastern time on 24 July 2026
- In transit
- goods loaded on the final vessel before that time were exempt if entered before 12:01 a.m. on 28 July 2026
- Exemptions
- products listed in Annex I and Annex II, Part A of the notice
- How it stacks
- the "net of MFN" method is reserved for the EU, Taiwan, Japan, Korea and Switzerland, so for Nigeria the 12.5% appears to be added to the ordinary duty
Tariffs change by presidential action and USTR notice, so treat this as the position as at October 2026. To confirm today's rate for a specific product, check the HTS line with your customs broker, and look for later USTR notices in the Federal Register.
Why 12.5% and not 10%
The presidential memorandum of 23 July 2026 set two tiers. Economies with a forced labour import ban, an Agreement on Reciprocal Trade commitment, or an equivalent partial regime get 10%, in some cases net of the ordinary duty. All other investigated economies, Nigeria included, get 12.5%.
How we got here: three regimes in 2026
| Period | Measure | Rate for Nigerian goods |
|---|---|---|
| April 2025 to February 2026 | IEEPA reciprocal tariffs (Executive Order 14257, as amended) | country rate set by executive order |
| 20 February 2026 | Executive Order 14389 ends the IEEPA duties under EO 14257 and eight other orders | IEEPA duties stop being collected "as soon as practicable" |
| 24 February to 24 July 2026 | Proclamation 11012, Section 122 temporary import surcharge, 150 days | 10% on all imports, with exemptions |
| From 24 July 2026 | Section 301 action on 60 economies | 12.5% on products of Nigeria, with exemptions |
Executive Order 14389 cites "recent events" without naming them. The Section 122 surcharge of Proclamation 11012 was additive to other duties, did not stack on Section 232 tariffs, and exempted categories such as certain critical minerals, energy products, pharmaceuticals, certain agricultural products, certain electronics, vehicles, aerospace products, information materials, donations and accompanied baggage. It ran "through 12:01 a.m. eastern daylight time on July 24, 2026", the same moment the Section 301 tariff took effect.
What the 12.5% means in practice
Example: you import Nigerian goods with a customs value of $10,000 on an HTS line whose ordinary duty is, say, 5%. The ordinary duty is $500. The Section 301 tariff at 12.5% is $1,250. Total duty would be $1,750, or 17.5% of the value, before broker fees and any other charges. If the product is listed in an annex exemption, only the $500 applies. The 5% is an illustration; your broker will look up the real line.
- Origin decides it: the tariff applies to products of Nigeria. Goods bought in Lagos but made elsewhere are products of that other country, with its own rate.
- Small parcels pay too: CBP has suspended the de minimis exemption indefinitely for postal shipments valued at $800 or less.
- AGOA: AGOA remains authorised through 31 December 2026, but the Section 301 notice text we read does not say how AGOA treatment interacts with the 12.5%. See does AGOA still apply.
- Food, cosmetics and textiles still need their own FDA and FTC compliance; see FDA rules for Nigerian foodstuff.
What to check before you price
- The HTS code and ordinary duty for each product.
- Whether the product appears in Annex I or Annex II, Part A of the USTR notice.
- The customs origin of the goods.
- Any USTR or presidential notice published after July 2026.
- How your broker will calculate the 12.5% on the entry.
For textiles specifically, see aso-oke and lace duties.
Where Pryme fits
Higher duty means tighter margins, and pricing depends on the naira cost of goods and the dollar landed cost. A Pryme Business Account opened from the US holds USD and NGN with local details, and Swap shows the rate and the fee before you approve, so you know the naira you pay suppliers. See business multicurrency accounts.
Questions people ask
What is the US tariff on Nigeria now?
As at October 2026, 12.5% under Section 301 on products of Nigeria since 24 July 2026, except products in the USTR notice's annexes, on top of the ordinary duty as far as the published text shows.
Did the reciprocal tariff on Nigeria end?
The IEEPA duties under Executive Order 14257 were ended by Executive Order 14389 on 20 February 2026. A 10% Section 122 surcharge then ran until 24 July 2026.
Does the 12.5% tariff apply to small parcels from Nigeria?
For postal shipments valued at $800 or less, CBP has suspended the de minimis exemption indefinitely, so small parcels sent by post are dutiable.
Where can I check the tariff on my product?
Ask your customs broker to classify it in the HTS and check the annexes to the USTR Section 301 notice of 28 July 2026, and any later notice.
Sources
- Federal Register: USTR notice of actions in Section 301 investigations of various economies (28 Jul 2026) · accessed Oct 2026
- Federal Register: Presidential memorandum on Section 301 actions on 60 economies, forced labour (dated 23 Jul 2026, published 28 Jul 2026) · accessed Oct 2026
- Federal Register: Proclamation 11012, Imposing a temporary import surcharge (signed 20 Feb 2026, published 25 Feb 2026) · accessed Oct 2026
- Federal Register: Executive Order 14389, Ending certain tariff actions (signed 20 Feb 2026, published 25 Feb 2026) · accessed Oct 2026
- Federal Register: CBP rule, indefinite suspension of the de minimis exemption for mail shipments (24 Jun 2026) · accessed Oct 2026
- Federal Register: Proclamation 11030, To implement certain provisions in the Consolidated Appropriations Act, 2026 (signed 19 May 2026, published 22 May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.