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Mongolia

US Revised Tariffs (%)

10

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.

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
10
10
5.3
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0.4
0.03
0.37

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

Trade.Gov Fact Sheet

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.

Implications

As of today, Sunday, April 20, 2025, here's the latest update on tariffs concerning Mongolia and the United States: United States Tariffs on Goods from Mongolia: Baseline Tariff: The United States has a baseline tariff of 10% on imports from most countries, including Mongolia. This has been in effect since April 5, 2025. "Reciprocal Tariffs": The "reciprocal tariffs" that were announced in early April and then paused for most countries do not apply differently to Mongolia. According to available information, Mongolia's existing tariff rates on U.S. goods were already at or below the 10% baseline, so no additional "reciprocal" tariff was applied. Generalized System of Preferences (GSP): It's important to note that Mongolia has been a beneficiary of the U.S. Generalized System of Preferences (GSP) program in the past. The GSP provides duty-free treatment for certain goods imported from designated developing countries. While the specific details of Mongolia's current GSP status would require a review of the official USTR GSP list, if Mongolia is still a beneficiary for certain product categories, those imports would enter the U.S. duty-free, overriding the baseline tariff.   Overall Low Tariff Rates: News reports and analyses from early April 2025 indicated that the U.S. would apply a 10% tariff on Mongolian imports under the new tariff regime, reflecting Mongolia's generally low existing tariffs on U.S. goods. Mongolia's Tariffs on Goods from the United States: Mongolia generally has relatively low average tariff rates. In 2022, the simple average tariff across all products imported by Mongolia was 5.04%, and the trade-weighted average tariff was 5.36%. Specific tariff rates applied by Mongolia to U.S. goods vary by product. For example, in 2022, some agricultural products like live bovine animals faced a 5% tariff, while certain meats had higher rates. Key Takeaways: Currently, most goods imported from Mongolia into the United States are subject to a 10% tariff. However, certain product categories from Mongolia might still enter the U.S. duty-free if they are covered under the Generalized System of Preferences (GSP). You would need to consult the official GSP list for specific product eligibility. Mongolia, in turn, applies its own tariffs to goods imported from the United States, with average rates generally in the low single digits, though specific product tariffs can be higher. To get the most precise and up-to-date tariff rates for specific goods traded between the U.S. and Mongolia, it is always recommended to consult the official tariff schedules of both countries (e.g., the Harmonized Tariff Schedule of the United States and Mongolia's customs tariff schedule) or to consult with a customs broker.

US Negotiation Strategy

Based on the most recent data (January 2025), the top imports to the US from Mongolia by value are: Other Nuts ($1.49 Million)   Knit Sweaters ($244,000) Feldspar ($157,000) Historically, cashmere and other wool products have also been significant exports from Mongolia to the US. Here's a look at which states in the US have manufacturing related to these top imports, along with some example companies: Nuts (Other Nuts): While the specific types of "other nuts" aren't detailed in the provided data, the US has significant nut production. California: The leading producer of almonds, walnuts, and pistachios in the US. Examples include Blue Diamond Growers (almonds) in Sacramento and Wonderful Pistachios & Almonds in Lost Hills.   Georgia: A major producer of pecans. Examples include Pecan Nation in Albany.   Oregon: Known for hazelnuts (filberts). Examples include Wilco Hazelnut in Mount Angel.   Knit Sweaters (Apparel - Knit): The US has a textile and apparel manufacturing sector, although it has significantly decreased over the years due to globalization. Some production of knitwear still exists, often focusing on specialized or higher-end products. North Carolina: Has a historical and ongoing presence in textile manufacturing, including knitting. Examples include companies like Parkdale Mills (yarn production, which is a precursor to knitting) in Gastonia and some smaller knitting factories that produce specialized apparel.   California: Home to some apparel manufacturers, including those producing knitwear, particularly in the Los Angeles area. Examples can be smaller design and manufacturing houses focusing on fashion knitwear.   New York: The fashion district in New York City still has some knitwear production, often focusing on higher-end or custom designs. Feldspar (Natural Minerals & Stone): Feldspar is a common industrial mineral used in the production of glass, ceramics, paints, and other materials. The US has significant mining and processing of feldspar.   North Carolina: One of the leading states for feldspar mining. Companies like The Feldspar Corporation (part of Covia) have operations in the state.   Georgia: Also has feldspar mining operations. Idaho: Another state with feldspar mining activity. Companies such as IMERYS Performance Minerals have facilities that may process feldspar.   Cashmere and Wool Products (Apparel - Knit & Wool): While Mongolia is known for its high-quality cashmere, the US also has wool production and processing, though not typically on the same scale as cashmere. Texas: Leads the US in wool production. Companies like Chargeurs Wool USA process wool.   Wyoming and Montana: Also have significant sheep and wool production. Smaller textile mills might process wool into yarns and fabrics. Various states: There are smaller artisanal and niche manufacturers across the US that produce woolen and some cashmere blend knitwear, often focusing on high-quality and domestically sourced materials. Examples might be smaller independent design houses or companies specializing in outdoor apparel. It's important to note that while the US has the capacity to manufacture goods similar to its top imports from Mongolia, the scale of production, the specific types and qualities, and the cost competitiveness can vary significantly. For instance, while the US produces nuts, the specific "other nuts" imported from Mongolia might be types not as widely grown domestically. Similarly, while the US has textile manufacturing, the specific niche of Mongolian cashmere production is somewhat unique.

Investing in USA

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

Sources : ForbesUSDA 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.

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