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 latest update on U.S. tariffs shows a significant expansion of duties on a global scale, with an ongoing effort to reach targeted trade deals and a mixed impact on companies across various sectors.
Here is a summary of the current tariff landscape as of October 2025, focusing on deals and the impact on companies, along with the status for Libya.
1. Tariffs and Trade Deals Update (Global)
The most significant development is the implementation of the new, multi-tiered tariff structure under the "Liberation Day" framework and various Section 232 investigations.
Area | Status (October 2025) | Key Details |
Universal Baseline Tariff | 10% Implemented | A minimum 10% "reciprocal tariff" is applied to most imports from almost all countries that have not negotiated a specific trade deal. |
Country-Specific Reciprocal Tariffs | 10% - 41% Implemented | Higher rates (above the 10% baseline) are now in effect for countries with which the U.S. has large trade deficits, such as India, Vietnam, and South Korea, unless a trade agreement is reached. |
Key Sector-Specific Tariffs | Implemented / Incoming | Automobiles & Parts: 25% global tariff (with some exceptions for USMCA, UK, and Japan). Steel & Aluminum: 50% global tariff (with some exceptions). Wood Products: New tariffs of 10% to 50% on lumber, kitchen cabinets, and furniture, effective Oct 14, 2025, and rising in 2026. |
"De Minimis" Exemption | Suspended Globally | The duty-free exemption for low-value shipments (previously up to $800) was revoked for all countries in August 2025. This means all shipments, regardless of value, now require full customs clearance and applicable duties. |
New Trade Deals / Truces | Partial Agreements Reached | Preliminary agreements or tariff caps have been announced with several partners, including the European Union, Japan, the United Kingdom, and South Korea, offering some relief or capping tariffs on certain goods. |
Export to Sheets
2. Libya Tariff Status
Libya, like other nations without a specific trade deal to cap or exempt them, is primarily subject to the new Universal Baseline Tariff.
Country | Status (October 2025) | Reciprocal Tariff Rate |
Libya | Subject to Baseline Tariff | 10% (Applies to most goods, unless a product-specific tariff, like the 50% steel tariff, is higher). |
The key factor for U.S. imports from Libya is the new 10% baseline reciprocal tariff, unless the product falls under a sector-specific tariff (like steel or aluminum) where the rate would be higher.
3. Company and Industry Impact
The expanded and complex tariff regime has created both challenges and opportunities for U.S. and foreign companies:
Impact Area | Affected Companies / Industries | Details |
Input/Raw Materials Costs | Manufacturers (Automakers, Construction, Furniture) | Companies relying on imported steel (50% tariff), aluminum (50% tariff), or lumber/wood products (up to 50% tariff) face significantly higher input costs, potentially forcing them to raise consumer prices or absorb the cost. |
Consumer Prices | Retailers, Consumers | Tariffs on finished goods like furniture (up to 50%) and kitchen cabinets (up to 50%) are widely expected to be passed on to American consumers, leading to higher costs for home goods and construction. |
Targeted Protection | Domestic Manufacturers (Trucks, Pharma, Auto) | The 25% tariff on imported medium- and heavy-duty trucks (effective Nov 1) is explicitly intended to protect U.S. truck makers (e.g., Peterbilt, Kenworth). Similarly, the threat of a 100% tariff on pharmaceuticals unless manufacturing shifts to the U.S. targets foreign drugmakers. |
Supply Chain Relocation | Global Logistics/Sourcing Firms | Many companies are actively seeking to shift supply chains out of high-tariff countries (like China and India) and into new partner countries (like Vietnam or Indonesia) or back to the U.S. to avoid the duties. |
Customs Compliance | All Importers | The suspension of the "De Minimis" exemption means all shipments must now go through full customs clearance, dramatically increasing administrative complexity and costs for companies that import many small, low-value packages. |
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 |