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Mongolia

US Revised Tariffs (%)

10

Ease of doing business

theboardiQ Tariffs Dashboard:

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

Implications

This table provides updates on the US tariff and trade landscape, focusing on Mongolia and the general impact on companies as of October 2025.


US Tariffs Update: Mongolia and Corporate Impact


Area

Status (October 2025)

Key Details

Trade Deals - Mongolia

No Free Trade Agreement

The US and Mongolia maintain a Strategic Partnership and have a Bilateral Investment Treaty (BIT) and a Trade and Investment Framework Agreement (TIFA). There is no Free Trade Agreement or bilateral tax agreement in place.

US Tariffs on Mongolia

Minimal Direct Impact

Mongolia exports very little (less than 1% of its total shipments) directly to the US. Consequently, the direct effect of the new US reciprocal tariff policy on the Mongolian economy is considered very low.

Indirect Risk for Mongolia

Dependence on China

The main risk to Mongolia's economy is indirect, stemming from its strong trade dependence on China. An escalation of the US-China trade war could impede Chinese demand for Mongolian goods or cause supply chain disruptions.

General Corporate Impact

Costs Rising; Inflation Lag

Tariffs are acting as a tax on imports, with reports indicating that a substantial portion is being borne by US firms and passed on to consumers.


* **Inflation:** Costs have risen for tariff-sensitive items like **appliances, furniture, and coffee**. The full effect on broader consumer prices may still be delayed.
* **Revenue:** Federal government tariff revenue has significantly increased, more than doubling in the first nine months of 2025 compared to 2024. |

| New Sectoral Tariffs | Shipping and Furniture | Shipping: The US has imposed service fees on foreign-built vehicle carriers as part of a Section 301 action to restore American shipbuilding. Additional tariffs (up to 150%) are proposed on certain cargo handling equipment. Furniture/Wood Products: New tariffs (starting at 10%-25% and set to rise in 2026) have been implemented on items like softwood timber, upholstered furniture, and kitchen cabinets, citing national security concerns. | | Trade Balance Goal | No Improvement Seen | Economists and former officials suggest that after months of new tariffs, there is no clear sign of improvement in the US trade balance or the manufacturing sector, which were key goals of the policy. |


Note: The Mongolian government's new Investment Climate Statement (September 2025) highlights that while the country offers lucrative opportunities, caution is warranted due to vulnerabilities, ineffective dispute resolution, and increased risk of expropriation for foreign investors, particularly in the mining and energy sectors.

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.

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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