U.S.A TO NIGERIA TRADE POLICY
2020 Trade Policy Agenda and 2019 Annual Report of the President of the United States on the Trade Agreements Program

Office of the United States Trade Representative Ambassador Robert E. Lighthizer

THE PRESIDENT’S 2020 TRADE POLICY AGENDA

THE PRESIDENT’S TRADE POLICY AGENDA INTRODUCTION

President Trump promised to make fundamental changes to U.S. trade policy in order to achieve results that benefit all Americans, and the President has kept that promise. Actions taken to implement the President’s trade policy led to a historic year for American trade. Over the last year:  The President confronted China’s unfair trade policies and practices head-on and imposed substantial tariffs, resulting in a groundbreaking Phase One trade agreement with China. This agreement obligates China to take actions to cease its unfair trade policies and practices that harm U.S. business, workers, farmers, and ranchers. At the same time, China has committed to significantly increase its purchase of goods and services from the United States. The United States continues to maintain tariffs on approximately $370 billion in goods from China and has express authority under the agreement to take additional action to enforce China’s compliance.  The President signed into law the United States–Mexico–Canada Agreement (USMCA), an agreement that rebalances the U.S. trade relationship with Mexico and Canada, implements groundbreaking provisions for electronic commerce, establishes robust protections for labor and environment, and incentivizes manufacturing in the United States.  The United States entered into two separate agreements with Japan, the world’s third-largest economy, that will create massive export opportunities for American farmers and boost the approximately $40 billion in digital trade currently between the two countries.  The United States won the largest award in World Trade Organization (WTO) history, obtaining the right to impose countermeasures on $7.5 billion of goods from the European Union (EU) in response to the harm to U.S. interests caused by EU Member States’ subsidies to Airbus.  The United States initiated action against France for its unfair and discriminatory “digital services tax” that targeted American technology companies, resulting in an agreement to suspend collection of the tax.  The United States brought about a fundamental rethinking of the World Trade Organization, an institution that has strayed far from its original mission and purpose. Implementation of the President’s trade agenda has benefitted all Americans. The economy is strong, unemployment is at an all-time low, increasing numbers of Americans who left the job market are now working again, and wage growth has accelerated. Perhaps most significantly, however, the President’s trade agenda has helped those Americans most harmed by the failed policies of the last 25 years. In the decades following the North American Free Trade Agreement’s (NAFTA) implementation and China’s accession to the WTO, America lost 1 in 4 manufacturing jobs, more than 60,000 American factories were shut down, and millions of high-paying U.S. jobs were shipped overseas. President Trump committed to ending disastrous trade deals of the past, and he delivered.

Elements of the U.S. Trade Policy The U.S. trade policy and investment system includes the World Trade Organization (WTO) agreements which form the "multilateral bedrock of U.S. trade policy"1, its tariff, tariff rate quotas, 14 reciprocal free trade agreements, 5 preferential trade programs, 51 trade and investment framework agreements, 48 bilateral investment treaties, trade remedies, a trade agreement enforcement program, trade and development programs, measures which affect imports (e.g. Customs regulations), measures that affect exports (e.g., export promotion), and sector programs (e.g., subsidies to agriculture).
This section provides sources of information on many of these aspects of the U.S. trade and investment system, and identifies more than 60 other elements of U.S. trade policy that can be researched by using other sources noted in this guide.

Nigeria AGOA Status: Nigeria is eligible for AGOA this year. It also qualifies for textile and apparel benefits.
Trade Agreements: The U.S. and Nigeria signed a Trade & Investment Framework Agreement (TIFA) in 2000. The eighth U.S.-Nigerian TIFA Council Meeting was held in March 2014.
U.S.-Nigeria Trade Facts
In 2019, Nigeria GDP was an estimated $446.5 billion (current market exchange rates); real GDP was up by an estimated 2.2%; and the population was 201 million. (Source: IMF)
U.S. goods and services trade with Nigeria totaled an estimated $10.4 billion in 2019. Exports were $5.3 billion; imports were $5.1 billion. The U.S. goods and services trade surplus with Nigeria was $251 million in 2019.
Nigeria is currently our 54th largest goods trading partner with $7.8 billion in total (two way) goods trade during 2019. Goods exports totaled $3.2 billion; goods imports totaled $4.6 billion. The U.S. goods trade deficit with Nigeria was $1.4 billion in 2019.
Trade in services with Nigeria (exports and imports) totaled an estimated $2.6 billion in 2019. Services exports were $2.1 billion; services imports were $464 million. The U.S. services trade surplus with Nigeria was $1.7 billion in 2019.
Exports
Nigeria was the United States' 52nd largest goods export market in 2019. U.S. goods exports to Nigeria in 2019 were $3.2 billion, up 19.1% ($512 million) from 2018 but down 13.2% from 2009. The top export categories (2-digit HS) in 2019 were: vehicles ($938 million), cereals (wheat) ($494 million), machinery ($479 million), mineral fuels ($287 million), and plastics ($189 million). U.S. total exports of agricultural products to Nigeria totaled $608 million in 2019. Leading domestic export categories include: wheat ($473 million), prepared food ($24 million), wine & beer ($24 million), condiments & sauces ($11 million), and vegetable oils (ex. soybean) ($7 million). U.S. exports of services to Nigeria were an estimated $2.1 billion in 2019, 5.1% ($115 million) less than 2018, but 63.8% greater than 2009 levels. Leading services exports from the U.S. to Nigeria were in the travel, transport, and technical and other services sectors. Imports
Nigeria was the United States' 51st largest supplier of goods imports in 2019. U.S. goods imports from Nigeria totaled $4.6 billion in 2019, down 17.9% ($1.0 billion) from 2018, and down 75.9% from 2009. The top import categories (2-digit HS) in 2019 were: mineral fuels ($4.4 billion), special other (returns) ($80 million), oilseeds and oleaginous fruits (plants) ($15 million), fertilizers ($11 million), and cocoa ($10 million). U.S. total imports of agricultural products from Nigeria totaled $50 million in 2019. Leading categories include: cocoa beans ($8 million), feeds & fodders ($8 million), tea, including herbal ($8 million), spices ($7 million), and tree nuts ($6 million). U.S. imports of services from Nigeria were an estimated $464 million in 2019, 1.3% ($6 million) less than 2018, but 7.9% less than 2009 levels. Leading services imports from Nigeria to the U.S. were in the travel, research and development, and transport sectors. Trade Balance
The U.S. goods trade deficit with Nigeria was $1.4 billion in 2019, a 51.9% decrease ($1.5 billion) over 2018. The United States has a services trade surplus of an estimated $1.7 billion with Nigeria in 2019, down 6.2% from 2018. Investment
U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.5 billion in 2019, a 21.5% increase from 2018. There is no information on the distribution of U.S. FDI in Nigeria. Nigeria's FDI in the United States (stock) was $105 million in 2019, up 29.6% from 2018. There is no information on the distribution of Nigeria FDI in the U.S. Sales of services in Nigeria by majority U.S.-owned affiliates were $921 million in 2017 (latest data available), while sales of services in the United States by majority Nigeria-owned firms were $5 million.

Spain - Trade Agreements

Describes bilateral and multilateral trade agreements that this country is party to, including with the United States. Includes websites and other resources where U.S. companies can get more information on how to take advantage of these agreements. Last Published: 6/21/2019 Spain has been a member of the EU since 1986. The EU has free trade agreements with other economic associations (e.g., the European Free Trade Association or EFTA) and countries, providing a higher level of mutual market access.

As a result of the U.S.-EU Trade Agreement Negotiations, announced in a joint statement in Washington in July 2018, an Executive Working Group was established to seek to reduce transatlantic barriers to trade, including the elimination of non-auto industrial tariffs and non-tariff barriers. As a result of these negotiations, for example, the LNG Forum was organized by both governments and hosted by the EU in early May 2019.

Domestic and Foreign Market Access for BANGLA
Overview: Trade Policy and Business Environment
The People’s Republic of Bangladesh is classified as a low income country, which has experienced over 6 per cent of real GDP growth rates for the past few years. It was driven by favourable weather (necessary for agriculture) and strong export growth, especially in the garment industry where Bangladesh expanded its presence in the global market as a low-cost producer. According to the World Economic Forum (WEF) Enabling Trade Index (2012), which measures institutions, policies and services to facilitate trade in countries, Bangladesh was ranked 109th out of 132 countries, while its neighbouring countries, India, Pakistan, and Nepal were ranked respectively, 100th, 116th, and 124th. Even though Bangladesh comparably performed well in market access, it was offset by poor performance in transport and telecommunications infrastructure. The country launched a national policy called ‘Vision 2021’ in which it aims to become a middle-income country by 2021, raising per capita income to USD 2,000 and reducing poverty 15 per cent.
Trade Policy and Market Access
Bangladesh’s average applied MFN tariff was 14.9 per cent in 2012. Among non-agricultural products, slightly higher MFN tariffs are imposed on clothing and textiles which are one of its main export products (WTO 2012). As a least developed country (LDC), Bangladesh gains preferential market access from many WTO members under the Generalized System of Preferences (GSP). For example, the European Union (EU) granted duty-free and quota-free access through the Everything But Arms Initiative as well as providing rules of origin that are simplified and relaxed in favour of LDCs. Moreover, the United States of America (US) applied additional preferences under US GSP scheme to Bangladesh. Based on these preferential treatments, Bangladesh concentrated its exports on readymade-garments to the EU and the US markets – concurrently this strategy has raised concerns over a lack of export diversification. At the regional and bilateral level, Bangladesh has negotiated agreements including the South Asian Free Trade Area and it has taken steps to strengthen economic relations with India. However, exports to partner countries have remained limited

UK TRADING POLICY

UK Trade Policy Observatory (UKTPO) As the UK reconfigures its trade policy, the UK Trade Policy Observatory aims to ensure that new trade policies are constructed in a manner that benefits all
For over four decades, the European Union has managed a great deal of international trade policy on behalf of the UK. Brexit changes all of this. The UK now needs to debate, define and negotiate its position in the world trading system, requiring expert analysis to navigate successfully through this new landscape.
The UK Trade Policy Observatory (UKTPO), a partnership between Chatham House and the University of Sussex, works to support the development of new trade policies in the post-Brexit era. The UK Trade Policy Observatory is uniquely positioned to comment on and provide analysis of trade policy proposals in the wake of Brexit. The UKTPO will engage in seven priority areas:
Overall trade strategy, including the internal effects of trade agreements and trade instruments, such as the selection of standards, preferences and services regulation. Monitoring the treatment of UK exports by others and UK de facto import policy. Devising policies for UK trade with developing and least developed countries. Negotiation support. Institutional design. Enforcement (including trade defence instruments, WTO rights). Training for negotiating teams, government and other interested parties. Created in June 2016, the UKTPO is committed to engaging a wide variety of stakeholders to help strategise and develop the UK’s post-Brexit international trading environment. It will endeavour to do so in a manner that benefits all in the UK, and is fair to the UK, the EU and the world.