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Falkland Islands

US Revised Tariffs (%)

10

Ease of doing business

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
41
10
0
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0
0.02
-0.02

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

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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.

Tariff rate, applied, weighted mean, all products (%)

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.

Trading Economics - Imports

Implications

As of today, Saturday, April 19, 2025, the most significant tariff update concerning the Falkland Islands involves the recent actions taken by the United States: United States Tariff on Falkland Islands: A 41% tariff has been imposed by the United States on all imports from the Falkland Islands. This tariff went into effect on April 9, 2025.   This significant tariff was part of a broader announcement of "reciprocal tariffs" by the U.S., targeting countries with which it has trade imbalances or perceived unfair trade practices.   The 41% rate is notably high, with only a few other countries facing higher tariffs under this new U.S. policy.   The primary goods exported from the Falkland Islands to the U.S. are reported to be fish, particularly toothfish. In 2023, these exports were valued at around $27.4 million. Reactions and Potential Impacts: Falkland Islands Government: Teslyn Barkman, who oversees trade in the Falklands parliament, expressed surprise at the tariff, noting the territory's intent to maintain a "warm" relationship with the U.S. and stating they are not considering retaliatory measures. The government is working with the UK to understand how the tariff might be reduced or removed. United Kingdom: The UK government, through Liberal Democrat leader Ed Davey, has been urged to take action to support the Falkland Islands. Davey called for the Prime Minister to meet with the Falklands Governor and ensure the Islands' interests are included in any UK-US trade negotiations. He described the U.S. tariff as the "biggest threat facing Falklanders since Argentina's invasion."   Economic Concerns: The high tariff is expected to significantly impact the Falkland Islands' economy, which relies heavily on fish exports to the U.S. and the European Union.   Trade Relationship between the UK and Falkland Islands: The UK and the Falkland Islands have a strong trade relationship. In the four quarters leading up to the end of Q3 2024, total trade in goods and services between the UK and the Falkland Islands was £194 million, a 30.2% increase from the previous year. The UK's exports to the Falkland Islands are significantly higher than its imports, resulting in a trade surplus for the UK. The Falkland Islands are not part of the European Single Market and were not included in the EU-UK Trade and Cooperation Agreement post-Brexit, which has raised concerns about potential trade barriers with the EU as well.   In summary, the most recent and significant tariff update for the Falkland Islands is the imposition of a substantial 41% tariff on their exports to the United States, posing a considerable threat to their economy. The Falkland Islands and the UK government are currently exploring avenues to address this issue.

US Negotiation Strategy

Based on available trade data, the top imports to the US from the Falkland Islands are overwhelmingly seafood, specifically: Molluscs (primarily frozen squid) Non-fillet Frozen Fish While the overall value of imports from the Falkland Islands to the US might be relatively small compared to other trading partners, these seafood products represent the primary goods shipped. Regarding which states in the US can manufacture the same, the focus here would be on companies involved in seafood harvesting, processing, and freezing. Here are some examples of states with significant seafood industries and companies involved: Alaska: Trident Seafoods: One of the largest seafood companies in North America, involved in catching, processing, and distributing a wide range of fish and shellfish, including squid and various finfish.   Peter Pan Seafoods: Another major player in the Alaskan seafood industry, processing and freezing various fish species and shellfish.   Washington: Ocean Gold Seafoods: Processes and distributes various seafood products, including frozen fish and shellfish.   Pacific Seafood Group: A large seafood company with operations along the Pacific coast, involved in harvesting, processing, and distributing a variety of seafood.   Oregon: Similar to Washington, Oregon has a significant fishing industry with companies like Pacific Seafood Group having operations there, focusing on groundfish and shellfish.   Massachusetts: High Liner Foods: While they process and distribute seafood globally, they have a significant presence in Massachusetts and handle frozen seafood products. Numerous smaller fishing and processing companies are based in ports like Boston and Gloucester, dealing with various finfish and shellfish. Louisiana: While known for shrimp and crawfish, Louisiana also has companies involved in processing and freezing other types of fish and shellfish.   Maine: Famous for lobster, Maine also has a finfish processing sector with companies handling groundfish and other species. It's important to note that while these US states and companies engage in similar activities (harvesting, processing, and freezing seafood), the specific species and the scale of production might differ from the Falkland Islands. The Falkland Islands' economy heavily relies on the fishing industry, particularly squid, for export revenue. The US seafood industry is more diverse geographically and in terms of the species it handles.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

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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

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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.

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