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 situation with Venezuela, and the impact on companies, based on developments as of October 2025.
I. Major US Tariff Updates (October 2025)
The United States has dramatically escalated its tariff actions this year, moving beyond China to impose broad duties on a wider range of countries and products.
Target | New/Current Tariff Actions | Details |
China | 100% Additional Tariff Threatened | President Trump has threatened a 100% additional tariff on virtually all Chinese goods starting November 1, 2025, in response to China's new export controls on rare earth minerals. |
China (Current) | 30% (Approximate Combined Rate) | This rate is a combination of the "reciprocal tariff" (currently at 10%, though a higher rate is threatened) and a separate "fentanyl" tariff (20%), which had been significantly reduced during a temporary truce that has now "fizzled." |
Heavy Trucks | 25% Tariff Imposed | Effective November 1, 2025, a 25% tariff will be placed on all medium and heavy-duty trucks imported into the U.S. |
Furniture & Wood Products | Tariffs Implemented (Phased Increase) | New duties have been imposed on imports of: <ul><li>Softwood Lumber (10%)</li><li>Upholstered Furniture (starting at 25%, rising to 30%)</li><li>Kitchen Cabinets/Vanities (starting at 25%, rising to 50%)</li></ul> |
Pharmaceuticals | 100% Tariff Imposed | A 100% tariff has been imposed on certain branded or patented pharmaceutical products, with an exemption for companies that build domestic manufacturing facilities. |
Global Baseline | 10% Universal Tariff | The "Liberation Day" tariff, a 10% baseline duty, is applied to most goods from all non-sanctioned countries. |
II. Trade Deals and Agreements Status
The administration's focus on reciprocal tariffs and country-specific trade deficits has led to a mix of renewed conflicts and preliminary agreements.
Country/Region | Latest Status (October 2025) |
China | Truce Collapsed. Renewed hostilities and a threat of a 100% tariff have effectively ended the temporary tariff truce that had been in place since May 2025. |
EU, Japan, UK, South Korea, etc. | Preliminary Agreements Reached. Between April and August 2025, the U.S. announced preliminary agreements with several partners, which generally involve a reciprocal cap on tariff rates. For example, Japan's agreement limits the "reciprocal tariff" on its goods to 15% in certain categories. |
Global | "De Minimis" Ended. The long-standing duty-free treatment (the "de minimis" exemption) for low-value imported shipments has been suspended, which impacts all global trading partners. |
III. Venezuela Sanctions Update
US policy toward Venezuela is currently shifting back toward a more hardline stance, potentially reversing some earlier sanctions relief.
Sanctions Reinstatement: In April 2025, the U.S. reimposed most sanctions on Venezuela's oil and gas sectors, citing a failure by the Maduro government to fully comply with a democratic election agreement.
Chevron's Status: The U.S. oil company Chevron continues to operate under a specific waiver (license) from the U.S. Treasury, allowing it to export Venezuelan crude to the U.S.
Policy Debate: There are ongoing internal debates within the US government, with some officials pushing for escalating tensions, including naval deployments.
IV. Impact on Companies and Industries
The latest tariffs are causing significant disruption and uncertainty across multiple sectors, both domestically and internationally.
Industry | Specific Impact & Affected Companies |
Semiconductors/Tech | High-Risk Target. China launched an antitrust probe into US chip giant Qualcomm in what is widely seen as direct retaliation for US-China trade tensions. US export controls on "critical software" are also threatened. |
Furniture & Housing | Increased Consumer Cost. American retailers and consumers, especially those who buy from big-box stores like Home Depot, face higher costs due to the tariffs on cabinets, vanities, and upholstered furniture, which often rely on Chinese wood products. |
Manufacturing/Supply Chains | Diversification/Relocation. Companies across the board are forced to absorb higher costs or accelerate their efforts to shift supply chains away from China to countries like Vietnam and Mexico. Tariffs on goods like steel and aluminum impact costs for American downstream manufacturers. |
Automotive | Rising Costs. The 25% tariff on imported heavy-duty trucks and the previously implemented 25% tariff on all imported automobiles and auto parts are raising costs for major U.S. manufacturers like Peterbilt and Freightliner that rely on global supply chains. |
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 |