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 United States has enacted a wide-ranging, layered tariff regime, and the initial calm with many countries has given way to new, specific tariff actions in late 2025.
Here is an update on trade deals, the status of Cape Verde, and the impact on companies, as of October 2025.
Deals and Agreements (October 2025)
The administration has moved away from broad multilateral deals toward country-specific agreements to either temporarily pause or reduce the new tariffs.
Partner | Status / Tariff Deal | Key Details |
China | Truce Ended / Intensified Conflict | A temporary trade truce ended in October. Tariffs have escalated with new threats of an additional 100% tariff from the US (effective Nov. 1) in response to China's export controls on rare earth minerals. |
European Union (EU) | Partial Agreement in Effect | The EU is currently subject to a baseline 15% reciprocal tariff on most goods. An earlier agreement provided some cap on tariffs for certain goods. |
United Kingdom (UK) | Automotive Tariff Cap | The UK reached a deal to limit the tariff on a quota of UK-made cars to 10%, but the automotive industry remains critical of the complexity and limitations of the quota system. |
Other Trade Partners | Preliminary Agreements | The US had reached preliminary agreements/trusses with countries like Indonesia, Vietnam, the Philippines, South Korea, and Japan to manage the new tariff regime, but the general baseline tariff still applies to goods from countries without a formal, comprehensive exemption. |
Cape Verde (Cabo Verde)
Area | Status (October 2025) | Key Details |
US Trade Agreement | None | The U.S. and Cabo Verde do not have a specific Free Trade Agreement. |
AGOA Status | Eligible | Cape Verde remains eligible for trade benefits under the African Growth and Opportunity Act (AGOA), which provides duty-free access to the U.S. market for certain products. |
Current US Tariffs | 10% Baseline Reciprocal Tariff | As a non-exempted nation, most goods from Cape Verde are subject to the universal 10% "Liberation Day" reciprocal tariff implemented in April 2025. (Cape Verde was not listed among the countries subject to the higher country-specific rates.) |
Companies and Sectors Impacted
The sweeping tariffs implemented in 2025 have already had a significant, quantifiable impact on corporate earnings and supply chains across various sectors.
Sector/Industry | Key Impacts & Affected Companies |
Automotive | Significant Cost Increases. Tariffs of 25% on imported vehicles and parts have dramatically cut into profits. |
Toyota and Hyundai have reported a multi-billion dollar combined hit, forcing them to slash profit forecasts. | |
Luxury brands like Aston Martin have blamed U.S. tariffs for profit warnings. | |
Technology | Supply Chain Restructuring. Companies are absorbing costs and actively moving production out of high-tariff countries. |
Apple reported billions in tariff costs, forcing them to find ways to reduce the cost burden. | |
Qualcomm, a major US semiconductor firm, is facing an antitrust investigation in China, which appears to be a countermeasure to US actions. | |
Retail & Consumer Goods | Higher Sourcing Costs & Consumer Price Hikes. Tariffs on clothing, footwear, and furniture are squeezing margins and raising prices for consumers. |
Nike and Adidas project hundreds of millions to over a billion dollars in added annual costs due to tariffs on imports from key manufacturing hubs like China, Vietnam, and Indonesia. | |
Home Goods & Furniture | New Tariffs Imposed. New tariffs are in effect or pending on various products, including up to 50% on kitchen cabinets and bathroom vanities, and up to 30% on upholstered furniture, affecting importers and retailers of these home products. |
Pharmaceuticals | Threat of Massive Tariffs. The administration has threatened a 100% tariff on branded or patented imported drugs, using the threat as leverage to negotiate lower drug prices with manufacturers. |
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 |