A new bilateral trade agreement between the U.S. and Nigeria has reduced tariffs on textiles, including fabrics of a width exceeding 80 cm (HS Code: 5209.31), facilitating increased exports from Nigeria to the U.S.
2023-10-15
Impact: This agreement is expected to increase Nigerian textile exports to the U.S. by 15% over the next year, strengthening economic ties.
U.S. Imposes Quality Standards on Nigerian Fabric Imports
The U.S. introduced stricter quality control measures for imported woven cotton fabrics exceeding 80 cm in width, impacting Nigerian exporters who must now comply with enhanced testing protocols.
2023-09-22
Impact: Some Nigerian exporters may face delays and higher compliance costs, potentially reducing short-term trade volume by 5-10%.
Nigeria Expands Production Capacity for Wide-Width Fabrics
Nigeria's textile industry received a government-backed investment to upgrade machinery, increasing production of woven fabrics exceeding 80 cm for export to the U.S. market under AGOA benefits.
2023-08-10
Impact: This development could boost export volumes to the U.S. by 20% in the next two years, leveraging duty-free access under AGOA.
Policy Updates
Extension of AGOA Benefits for Nigerian Textiles
The U.S. renewed the African Growth and Opportunity Act (AGOA) benefits for Nigeria, allowing duty-free imports of textiles, including fabrics exceeding 80 cm in width, until 2025.
Date: 2023-07-01
U.S. Updates Import Tariffs on Non-AGOA Textiles
The U.S. adjusted tariff rates for non-AGOA textile imports, increasing duties on woven fabrics exceeding 80 cm in width by 3% for countries not under preferential trade agreements.
