
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 US tariff landscape is highly dynamic and characterized by broad "reciprocal" tariffs, escalating sector-specific duties, and targeted trade agreements.
Here is an update on US Tariffs, Deals & Agreements, the Falkland Islands, and Company Impact as of October 2025.
1. US Tariffs: Key Rates and Updates
The US tariff structure now includes a general "reciprocal" tariff on nearly all imports, layered with numerous product- and country-specific duties.
Tariff Type | Scope | Current/Upcoming Rate | Key Detail |
Universal Baseline | Most goods from all non-sanctioned countries | 10% (Implemented April 2025) | This is a minimum tariff, with country-specific rates often higher. |
China (Combined Rate) | Most Chinese imports | ~30% (10% baseline + 20% "Fentanyl" tariff) | The 34% "reciprocal" rate is delayed until November 10, 2025. |
China (Threatened) | All Chinese imports | +100% (Effective Nov 1, 2025) | Threat in response to China's rare earth export controls, potentially raising the total rate to ~130%. |
Heavy-Duty Trucks | Imported medium and heavy-duty trucks | 25% (Effective Nov 1, 2025) | Imposed under a Section 232 'national security' investigation. |
Steel & Aluminum | Global imports | 50% (Generally) | Raised from previous Section 232 rates. |
Automobiles & Parts | Global imports | 25% (Generally) | Also imposed under Section 232. |
Furniture & Cabinetry | Upholstered furniture, kitchen cabinets | 25%-50% (Phased increase starting Oct 2025) | New tariffs targeting wood products for 'national security' reasons. |
"De Minimis" Rule | Global imports of low-value goods | Suspended (Effective August 29, 2025) | Shipments of any value are now subject to duties and full customs clearance. |
2. Trade Deals and Agreements
The US has used the threat of high reciprocal tariffs to negotiate bilateral framework agreements with several partners, capping their applicable tariff rates.
Country/Bloc | Status | Key Provision |
United Kingdom (UK) | Agreement in Place | Most UK imports face a 10% reciprocal rate. Steel/Aluminum tariffs are now capped at 25%. |
European Union (EU) | Agreement in Place | Imports face either the traditional (MFN) rate or a 15% reciprocal rate cap on certain products (e.g., semiconductors, pharmaceuticals) once the EU enacts its agreed tariff reductions. |
Japan | Agreement in Place | A baseline rate of 15% for most Japanese imports, with sector-specific treatment for others. |
Indonesia | Preliminary Deal | Negotiating an agreement to lower the US tariff rate from an initial 32% to a current 19%, in exchange for Indonesian purchases of US energy, agricultural goods, and aircraft. |
China | Truce Ended | The previous tariff truce has broken down. The US is threatening to impose a 100% additional tariff on November 1. |
Canada/Mexico | USMCA in Effect | Goods compliant with the USMCA agreement remain exempt from the new broad reciprocal tariffs, but non-compliant goods and specific products like Canadian steel/aluminum face high rates. |
3. Falkland Islands Trade Status
The Falkland Islands have seen a significant change in their applicable US tariff rate.
Current Reciprocal Tariff Rate: 10% (Implemented August 2025).
Previous Rate: The Falkland Islands were reportedly subject to a much higher initial reciprocal tariff of 42% before a rate reduction was announced. The current 10% rate aligns with the general "baseline" tariff applied to countries that do not have a higher, country-specific reciprocal rate or a special trade agreement.
4. Companies and Industries Impacted
The wide-ranging tariffs are significantly increasing costs across multiple US-based and international industries, leading many companies to revise financial forecasts, implement price hikes, and re-engineer their supply chains.
Industry/Product | Impact Summary | Example Companies (Reported Impact) |
Automotive | Hit by the 25% tariff on autos and parts. Manufacturers are reporting major cost increases and profit drops. | Toyota, Hyundai (reported multi-billion dollar tariff hits and sharp profit declines). |
Technology | Affected by China tariffs and the ending of the de minimis rule, increasing the cost of goods and components. | Apple (reported absorbing over $1 billion in tariff costs per quarter). |
Apparel & Footwear | Imports from key manufacturing hubs like China, Vietnam, and Indonesia face tariffs, increasing sourcing costs. | Nike, Adidas (forecasting hundreds of millions to over $1 billion in extra costs). |
Construction/Home Goods | New tariffs on steel, aluminum, lumber, and furniture are directly increasing the cost of materials and finished products for builders and retailers. | Caterpillar (heavy equipment, reported a major tariff hit to operating profit), Home Depot/Macy's (retailers facing higher costs on furniture and cabinets). |
Steel & Aluminum | The global tariff hike to 50% is destabilizing markets, causing domestic price volatility, and forcing UK and EU producers to warn of an "existential threat" from diverted global supply. | UK/EU Steel companies (facing potential collapse due to competition from diverted global supply). |
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 |