US President Donald Trump has announced the implementation of reciprocal tariffs, which would result in increased taxes on exports to the US for dozens of countries.

In a tweet on his Truth Social platform Wednesday morning, the president promised a significant boost to the American economy.

“Reciprocal tariffs will take effect at midnight tonight! Billions of dollars will begin to flood into the United States, primarily from countries that have taken advantage of the country for many years while laughing all the while,” he stated.

The president also stated that only legal challenges may jeopardise the policy’s effectiveness, referring to an ongoing dispute in the United States Court of Appeals that is determining whether he exceeded his jurisdiction in implementing the “reciprocal” tariffs.

“The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail!” he said.

Minutes before the deadline, Trump wrote, “It’s midnight! Billions of dollars in tariffs are now entering the United States of America!”

Nigeria and a number of other African countries were slammed with a 15% import charge last week as a result of Trump’s sweeping executive order.

Earlier in April, Trump imposed sweeping duties on global trading partners, including 14 percent on Nigeria.

The “reciprocal” duties were eventually postponed for 90 days to allow for individual trade negotiations, with the deadline shifted to August 1.