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 global tariff environment has become highly complex in 2025, driven by the implementation of reciprocal tariffs on almost all U.S. trading partners and new sector-specific duties.
Here is an update focusing on major Deals and Agreements, the specific situation with Tokelau, and the broader Company Impacts as of October 2025.
1. US Tariffs: Deals and Agreements Update (October 2025)
The United States has been using the threat of its new, higher reciprocal tariff rates (which started at a 10% baseline for most countries) as leverage to secure new trade and investment agreements with key partners.
Partner | Status (October 2025) | Key Outcome/Detail |
China | Truce Broken / Escalation | The temporary tariff truce has ended. The US currently maintains a 10% baseline and a 20% "fentanyl" tariff. A 100% additional tariff is threatened to begin on November 1, 2025, in response to China's new rare earth export controls. |
European Union (EU) | Framework Agreement Reached | A Framework Agreement was announced in August 2025. The US commits to cap its reciprocal tariffs on most EU goods at the higher of the MFN rate or 15%. The EU committed to eliminating tariffs on all U.S. industrial goods and on an expanded list of U.S. agricultural/seafood products. |
Japan | Agreement on Tariffs | The U.S. has modified its reciprocal tariff rates to apply a special tariff arrangement on Japanese goods. The agreement also replaced Section 232 tariffs on automobiles and parts with a special arrangement. |
South Korea | Investment Renegotiation | The U.S. lowered its reciprocal tariff rate to 15% (down from a threatened 25%) as part of a trade deal. However, South Korea is now renegotiating a core commitment of the deal—a $350 billion U.S. investment pledge—citing difficulty in meeting the investment size. |
Wood Products | New Tariffs Imposed | The U.S. imposed new Section 232 "national security" tariffs on imports of softwood lumber (10%) and certain furniture (25%, rising to 30-50%) with an initial effective date of October 14, 2025. |
2. Tokelau Update
Tokelau, a small Pacific island territory with minimal trade volume, is generally subject to the new broad U.S. tariff policy.
Area | Status (October 2025) | Key Detail |
Reciprocal Tariffs | Subject to New Tariffs | Tokelau, like nearly all other U.S. trading partners without a specific new trade deal exemption, is subject to the general reciprocal tariffs (minimum 10%). |
Trade Volume | Extremely Low | Trade volume between the US and Tokelau is negligible. For example, in July 2025, Tokelau's exports to the U.S. were only about $12.3 thousand. |
Specific Impact | Outsized Effect on Micro-Trade | While the tariff is a small fraction of overall U.S. trade, a publication in April 2025 noted the administration declared sweeping tariffs on the "whole of the Blue Pacific," including Tokelau, highlighting that even tiny trade volumes are being affected. |
3. Companies Impact
The overall impact of the new, higher U.S. tariff regime on companies is significant and complex.
Impact Area | Detail (as of October 2025) |
Cost to Consumers | The higher tariffs are estimated to be largely passed on to consumers. Studies indicate the new 2025 tariffs could raise consumer prices by approximately 2.3% in the short term, equivalent to an estimated loss of purchasing power of $3,800 per U.S. household on average. |
Supply Chain Disruption | The new round of U.S.-China escalation—specifically China's rare earth export controls and the U.S.'s 100% tariff threat—is expected to create temporary shortages and weigh on U.S. technology stocks and global equities. |
Investment Uncertainty | Representatives from numerous foreign companies have reported delaying major U.S. investment decisions due to the uncertainty and lack of predictability created by the continuous and expanding tariff policy. |
Tariff Revenue | The new tariffs are raising significant revenue for the U.S. Treasury. Through August 2025, total net customs duty revenues for the year were estimated at $146 billion. |
Financial Markets | The recent tit-for-tat escalation between the U.S. and China has triggered a risk-off reaction in financial markets, leading to sell-offs in U.S. equities (especially technology) and a drop in Treasury yields. |
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 |