Ease of doing business
theboardiQ Tariffs Dashboard:
Powering Mutually Beneficial Global Trade.
Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.
Implications
Here is an update on US tariffs, key trade agreements, the status of Afghanistan, and the general impact on companies as of October 2025.
The main theme is the expansion of tariffs to near-universal coverage of imports, targeted sectoral duties, and renewed trade tensions.
US Tariffs Update
Tariff Type | Scope & Status (October 2025) | Key Details |
Universal Reciprocal Tariffs | 10% (Implemented globally) | A baseline 10% tariff (the "Liberation Day" tariff) is in effect on most goods from nearly all non-sanctioned countries. The original proposed country-specific rates (e.g., 34% on China) are either being phased in or have been reduced for trading partners that have reached agreements. |
New Sectoral Tariffs | Implemented / Incoming | The administration has imposed or announced new tariffs on specific goods, including: Steel, Aluminum, and Copper (50% global rate); Automobiles & Auto Parts (25% global rate); Upholstered Furniture, Kitchen Cabinets, and Vanities (starting at 25%, rising to 50%); and Medium/Heavy-Duty Trucks (25% effective Nov. 1). |
China Tariffs | Escalating / Threatened | The temporary truce has ended. The US is applying its universal tariffs plus the "fentanyl" tariff (approx. 30% total rate). President Trump has threatened an additional 100% tariff on all Chinese imports to take effect on November 1, 2025, in response to China's new rare-earth export controls. |
De Minimis Exemption | Suspended (Globally) | The duty-free exemption for low-value shipments (previously up to $800) has been suspended, subjecting almost all imported packages to applicable tariffs and duties. |
Deals and Agreements Status
The Administration has focused on bilateral agreements that reduce tariffs from the universal baseline rate in exchange for trade commitments.
Agreements Reached: Preliminary framework agreements have been announced with several key partners, including the European Union (EU), Japan, the United Kingdom (UK), South Korea, Vietnam, the Philippines, and Indonesia. These agreements generally involve the U.S. reducing the "reciprocal tariff" to zero and capping Section 232 tariffs on their imports (like autos, steel) in exchange for country-specific commitments.
Negotiations Ongoing: Formal negotiations continue to fully implement the framework agreements.
USMCA: The trade relationship with Canada and Mexico largely remains protected under the USMCA agreement, though specific products and transshipped goods are facing new tariffs and scrutiny.
Trade Status with Afghanistan
Tariff Exposure: Afghanistan is generally subject to the global 10% baseline reciprocal tariff imposed by the US, as it is not listed among the countries that have a new bilateral agreement for a lower rate.
Wider Context: Due to the severe political and economic situation following the Taliban's takeover, U.S. commercial trade with Afghanistan remains minimal. While trade preference programs like the Generalized System of Preferences (GSP) were previously suspended, there are currently no major, direct trade deals or specific new tariffs targeting Afghanistan that stand out against the backdrop of the universal tariffs.
Impact on Companies and Consumers
Rising Costs: Economists and industry analysts generally conclude that the tariffs are taxes paid by US companies and consumers, not foreign governments.
Import Prices: Import prices for tariff-sensitive goods are running higher, with cost increases being absorbed initially by retailers but increasingly passed on to consumers.
Housing & Construction: New tariffs on softwood lumber, kitchen cabinets, and furniture are expected to significantly raise costs for homebuilders and homeowners.
Supply Chain Shift: Companies continue to accelerate efforts to re-route supply chains out of high-tariff countries like China, a phenomenon known as "trade diversion" or "friend-shoring."
Economic Goals:
Government Revenue: The tariffs have resulted in a significant increase in U.S. customs revenue.
Trade Balance/Manufacturing: There is little evidence as of October 2025 that the universal tariffs have meaningfully improved the US trade deficit or caused a broad, significant boom in the US manufacturing sector.
US Revised Tariffs
Country Tariffs
Balance of Trade
Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals
Tariff Rate for US
World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.
US Imports Guide
United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.
Investing in USA
theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters
Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration
theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.
Economic
Relevance
Ranking
State | Info | Overall Rank | Agri | Innov | Mfg | Employ | Tax | Edu | GDP | F500 Rep | Trade Balance | Cost of Living | Disp Income |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Texas | 1 | 4 | 5 | 11 | 10 | 7 | 42 | 2 | 2 | 2 | 24 | 13 | |
North Carolina | 2 | 9 | 21 | 1 | 4 | 12 | 28 | 11 | 16 | 41 | 17 | 17 | |
Virginia | 3 | 32 | 24 | 6 | 2 | 28 | 7 | 13 | 6 | 34 | 35 | 3 | |
Florida | 4 | 21 | 11 | 15 | 1 | 4 | 35 | 4 | 7 | 40 | 30 | 37 | |
Washington | 5 | 16 | 3 | 36 | 28 | 45 | 9 | 9 | 15 | 9 | 43 | 1 | |
Missouri | 6 | 11 | 25 | 22 | 20 | 13 | 32 | 21 | 22 | 20 | 10 | 20 | |
Georgia | 7 | 15 | 26 | 9 | 3 | 26 | 34 | 8 | 9 | 43 | 26 | 19 | |
Minnesota | 8 | 6 | 10 | 47 | 6 | 44 | 8 | 20 | 10 | 33 | 33 | 9 | |
Ohio | 9 | 12 | 32 | 7 | 30 | 35 | 36 | 7 | 5 | 38 | 15 | 11 | |
Illinois | 10 | 5 | 23 | 31 | 23 | 37 | 16 | 5 | 4 | 47 | 32 | 7 |