
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
The U.S. tariff landscape concerning Canada is marked by high and complex duties under new Presidential authority, though the USMCA trade agreement continues to provide significant exemptions. The recent meeting between leaders resulted in no immediate deal but confirmed ongoing negotiations.
Here is the update on US tariffs and the trade situation with Canada as of October 2025:
US Tariffs on Canada
Tariff Type | Current Rate(s) | Key Details |
IEEPA "Fentanyl/Border" Tariff | 35% on most goods | Imposed under the International Emergency Economic Powers Act (IEEPA), this tariff is a blanket duty on most Canadian products that do not qualify as North American-originating goods under the USMCA. |
Energy & Critical Minerals | 10% | A reduced rate applies to Canadian energy, energy resources, and potash. |
Section 232 Tariffs | 50% (Steel & Aluminum) | Tariffs on most imported steel and aluminum have been increased to 50% from all sources, including Canada, which has a highly integrated supply chain with the US. |
Trucks (Upcoming) | 25% (Effective Nov 1, 2025) | A new tariff on all imported medium and heavy-duty trucks, which will impact Canadian manufacturers and suppliers. |
Deals & Agreements Status
Agreement | Status | Impact on Tariffs |
USMCA (US-Mexico-Canada Agreement) | In Effect / Under Review | Crucial Exemption: Goods that qualify as originating under the USMCA rules are exempt from the primary 35% IEEPA tariff. This exemption covers over 85% of US-Canada trade. The agreement is due for a mandated review in 2026. |
Bilateral Trade Talks | Ongoing | Canadian Prime Minister Mark Carney met with President Trump in October 2025. While no deal was reached, both leaders indicated a willingness to continue talks. The main goal for Canada is to secure relief or a new agreement on the sector-specific tariffs (Steel, Aluminum, Autos). |
Canadian Retaliatory Tariffs | Partially Repealed / Ongoing | Canada has imposed retaliatory tariffs on certain US goods (e.g., steel, aluminum, and auto parts) but repealed surtaxes on a $30 billion list of US products in September 2025. The retaliatory tariff on US-origin motor vehicles remains in effect. |
Companies & Sectors Impacted
The US tariffs primarily affect Canadian businesses with major U.S. exposure whose products do not meet the USMCA's rules of origin or fall under sector-specific tariffs (like Section 232 or the new truck duties).
Sector | Impacted Companies / Areas | Key Issue |
Energy | Enbridge, TC Energy, Suncor Energy | Although a lower 10% rate applies to energy, companies that generate a significant portion of their revenue from U.S. exports are exposed to the tariff burden on crude oil, natural gas, and other resources. |
Agriculture/Fertilizer | Nutrien | As the largest Canadian company at risk by some reports, it faces billions in potential tariff costs, despite having nitrogen facilities in the US. The tariff affects fertilizer, potash, and other agri-products. |
Automotive | Magna International and other auto parts manufacturers | The industry is highly integrated across the border. While USMCA-compliant vehicles are exempt, tariffs on steel, aluminum, and the new 25% tariff on heavy trucks create significant cost pressure and supply chain disruption. |
Materials | Steel & Aluminum Producers | Subject to the 50% Section 232 tariffs, creating massive barriers for Canada's role as the US's largest supplier of these metals. |
Lumber | Softwood Lumber | A perennial trade issue, the sector is currently subject to various US duties, and the tariff policy on wood products is a point of conflict. |
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 |