Understand the complexities of international tariffs-ease of doing business across nations to cultivate balanced trade to deliver cost savings to end consumers.
theboardiQ LLC, an early-stage start-up based out of SF Bay Area, CA, released the first edition of theboardiQ Tariffs Dashboard for the United States. theboardiQ LLC is in the business of creating high performing boards and executive teams, reducing bias, faster, accurately, and economically driving sustainable impact towards égalité, a state of true equality aligning with the UN SDGs & the World Economic Forum's vision.
theboardiQ Tariffs Dashboard helps you 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.
By visualizing this data, says Smitashree Menon, Founder and CEO, theboardiQ LLC, users of theboardiQ Tariffs Dashboard could gain insights into:
-Significant Trading Partners: Identify countries with the largest share of U.S. imports.
-Impact of Tariff Changes: Understand how recent U.S. tariff revisions are affecting different trading partners.
-Reciprocity (or Lack Thereof): Compare the U.S. tariff rates with the tariff rates imposed by partner countries.
-Trade Imbalances: Identify countries with significant trade surpluses or deficits with the U.S.
-Potential Cost Implications: Analyze how tariffs might impact the cost of goods for U.S. consumers based on import volumes and tariff rates.
-Opportunities for Streamlining: Identify countries with lower tariff barriers and better trade balances as potential areas for increased trade and efficiency."
"It is clear that the United States Government needs to focus on the Top 10 nations (namely European Union, Mexico, China, Canada, Japan, Vietnam, South Korea, Taiwan, India and UK) that resulted in 80.8% of it's imports in 2024, instead of the 183 estimated trading partners being slapped with a tariff," continues Smitashree.
Moreover, doing a deep dive into the Balance of Trade with the Trading Partners, for the year 2024, maximum Trade Deficits were with China, European Union, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada, India and Thailand, in that ranking order. It becomes wildly important to focus on negotiating mutually favorable deals with these countries first, that would help push the envelope not only to build in-country resiliency and capability but to also bring down time to market and lowering costs for the end consumer in the long term.
theboardiQ Tariffs Dashboard is based on the following:
1. Share of US Imports %: The percentage of total U.S. goods imports originating from this country in 2024.
2. Initial US Tariff %: The prevailing U.S. tariff rate on goods from this country before any recent changes (as of early April 2025).
3. Revised Tariff %: The current U.S. tariff rate on goods from this country, reflecting the recent changes (as of April 21, 2025). Note the significant increase for China, Hong Kong, and Macau.
4. Country Tariff Rate %: The current tariff rate imposed by this country on goods imported from the United States.
5. Exports (in USD Mill.) 2024: The total value of goods exported from the U.S. to this country in 2024 (in millions of U.S. dollars).
6. Imports (in USD Mill.) 2024: The total value of goods imported by the U.S. from this country in 2024 (in millions of U.S. dollars).
7. Balance (in USD Mill.) 2024: The trade balance between the U.S. and this country in 2024 (Exports - Imports, in millions of U.S. dollars). A negative value indicates a trade deficit for the U.S.
Each country's data sheet further elaborates Commercial Guides where you can 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.
The Tariff Rate, Applied, Weighted Mean, All Products (%) is pulled from the World Bank Data (which is 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).
theboardiQ LLC has also used Generative AI to populate Tariff Implications for each nation.
It is important to note that this sample data provides a foundation for theboardiQ Tariffs Dashboard to deliver valuable insights into the complexities of global trade and the impact of tariffs. Real-time data would be crucial for the dashboard to provide the most up-to-date and actionable information.
Smitashree Menon
theboardiQ LLC
smitashree@theboardiQ.com
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