Spotlight: Oregon Trade and Tariff Impacts
Trade in Oregon
Trade is a critical component to Oregon’s economy and the state’s businesses. By one measure, our economy’s reliance on trade is the sixth largest in the U.S., in terms of export value as portion of state GDP. Oregon also has the sixth highest rate of exports per capita in the U.S. Oregon’s leadership in trade is due to many factors, including the state’s position on the Pacific Ocean allowing access to markets through our various seaports and airports, as well as Oregon’s strong, high-value semiconductor sector, which has a significant impact on export value. (page updated April 16, 2025)
We understand your business may be facing some uncertainty due to the tariffs, and your comments are critical to help us gauge the impact to Oregon. In collaboration with the Port of Portland and Oregon Department of Agriculture, Business Oregon is administering a very brief Tariff and Trade Survey to better understand the impact to Oregon companies.
New Tariffs
The U.S. federal administration recently announced new tariffs on goods imported into the country. These tariffs are a tax paid by companies in the U.S. to the federal government when they purchase tariffed goods from outside the U.S.
The administration announced expansive “reciprocal” tariffs taxing goods imported into the U.S. on April 2, 2025. Notably for Oregon, semiconductor imports were largely excluded from these reciprocal tariffs. This was following tariffs announced by the White House effective March 4, 2025, that applied to imports from Mexico, Canada, and China. These new April tariffs start at a baseline of 10%, increasing to a high of 145% for China. On April 9, 2025, the administration announced a “90-day pause” of these reciprocal tariffs. In the meantime, the baseline tariff of 10% will be applied to all countries apart from China, Mexico, and Canada. In the case of China, a tariff of 145% is now in effect. The 25% tariffs on most Canadian and Mexican products from March remain unaffected by the pause announced on April 9.
Oregon imported $28.2 billion in goods from foreign nations in 2024. Combining these country-specific tariffs with tariffs on automobiles, steel, and aluminum the total new estimated import tax on goods coming into Oregon ports is $8.77 billion, an effective tax rate on imports of 31%.
However, the administration paused the majority of these “reciprocal” tariffs until July 8, 2025, in the meantime, a flat 10% tariff was applied to all countries apart from China (145%), Mexico (25%), and Canada (25%). During this “pause” tax increases remain notable. New taxes on goods imported through Oregon ports is expected to be around $7.43 billion (on an annualized basis), which is the equivalent of a 26% sales tax on imported goods.
These tariffs are U.S. taxes paid by the importer/purchaser of the foreign product here in the U.S. Actual import taxes paid in 2025 will likely vary from these estimates, due to a likely reduction in volume from increased costs and supply chain disruptions, as well as the considerable volatility in trade activity that exists from one year to the next.
Japanese goods accounted for the highest value imports coming into Oregon in 2024 at roughly $4.75 billion in goods, followed by Taiwan ($4.5 billion), Canada ($3.8 billion), China ($2.7 billion), and South Korea ($1.6 billion). Although China is only ranked 4th for imports into Oregon, it will account for the largest share of new import taxes due to a 145% tariff on Chinese imports.
Impact of New Tariffs on Oregon Imports
| Oregon Total Imports New Commodity Import Taxes | $28,231,764,118 $987,270,164 |
| New Country Import Taxes | $6,447,690,085 |
| Total New Import Taxes | $7,434,960,250 |
| Effective Tax Rate | 26.3% |
Note: Import taxes annualized based on 2024 Import Levels into Oregon. Estimates based on current active tariffs.
*Currently in effect. Goods from all other countries paying a 10% tariff until after the 90 day pause.
Recent Trends
Oregon saw a large increase in exports in 2024 (+23%, ~$6.3 billion). The large increase in 2024 put total exports out of Oregon at comparable levels to 2022, which was a record year for Oregon exports. This sharp rise in export activity was caused by an uptick in exports to China, Malaysia, and Vietnam. The commodities that contributed to this uptick were primarily electronics and machinery—most of that related to the semiconductor industry. However, there was also notable increased exports of fertilizers and cereals.
The other side of the trade coin, imports, also posted notable increases in 2024 from levels in 2023 (+45%, ~$8.8 billion). As with exports, these gains largely got the state back in line with the record levels in 2022. These increased imports were coming from Japan, Taiwan, China, South Korea, and Israel. Once again, the semiconductor industry was the major player in the increase in imports, but there was also a notable uptick in vehicle and apparel imports.
Exports out of Oregon
If we look at the 3-year average of trade activity, China accounts for roughly 20% of all export activity out of Oregon. Not far behind is Mexico with 19% of exports over the last 3 years. After that, there is a notable drop off with Canada coming in at 11% and Malayasia at 10% of total Oregon exports. Roughly 4% of Oregon exports are each sent to Ireland, Vietnam, and Japan.
Electrical products and machinery are the major driver of Oregon exports accounting for 50% of all exports over the last 3 years. This is largely tied to the semiconductor industry, driving the “Computer and Electronic Products” sector, which in turn is driven by Intel. Other major exports include vehicles and vehicle parts (largely sent to Mexico) at 15% of total exports. Medical and surgical products (4%), fertilizers (4%), wood products (4%), and agriculture-related cereals—not the breakfast item (2%), make up the remaining large exports.
Imports into Oregon
Besides sending out products to foreign nations, we also import a significant amount of goods from other nations. Over the last 3 years, roughly 18% of Oregon imports came each from Japan and Canada, followed by China (10%), Taiwan (9%), Korea (7%), and Israel (4.5%).
Electrical products and machinery sector tied to semiconductors is the largest import into Oregon ports (43% of total imports). That is followed by vehicle imports (15%) that largely come into the Port of Portland. A notable share of imports also includes medical and surgical instruments (5%) and fertilizers (4%).
The list of commodities imported looks a lot like the list of top exports. This helps to show the global nature of many of our supply chains. Components/intermediary goods are imported that are used in the development of finished goods here in Oregon or across the U.S. Those finished goods are then exported overseas for consumption in other markets. International trade is a complicated maze where we rely on our trade partners for access to materials, goods, and markets to ensure that Oregonians have the products they need and the best opportunity to grow their businesses globally.
Resources for Businesses Looking into International Trade
- GBA Tariff Tracker
- Oregon District Export Council
- NADEC
- US Commercial Service
- US Commerce Department (ITA)
- World Trade Organization
- Marketplace
- NBC News, Understanding the Trump Tariffs
- CNN Tariff Tracker
- Council on Foreign Relations, Tariff Charts
- US Department of Commerce
- Oregon Department of Agriculture
- Travel Oregon
- Port of Portland
Business Oregon’s Response to Tariffs
In response to a recent escalation of tariffs, Business Oregon has increased subsidies and services that support trade promotion, available to Oregon companies.
- Increase matching grants to $10,000 per project and up to 75% of total project costs for both Export Promotion Program applicants (formerly $8,000 maximum and 50% of project costs)
- Increase airfare maximum to $1,000 per person for domestic, and $2,000 per person for International. (formerly $500 for domestic and $1,000 for international)
- Applicable for all reimbursement requests received on or after 3/21/2025 for activities that occurred after 1/19/2025.
- These program changes are in effect until further notice
- Oregon Tariff Response Assistance grant application
Provide matching grants of up to $3,000 per project and up to 75% of total project costs to contract with verified contractors to provide technical assistance for market analysis, certification, business-to-business matchmaking, US Commercial Service or equivalent contractor services, and tariff response strategy development. Applications open now – click here to apply.
Oregon Exports
Following are Oregon export statistics by industry and destination country. The industries are listed by North American Industry Classification System (NAICS) codes.
Oregon Exports by Industry
| NAICS Code | Description | Annual 2022 | Annual 2023 | Annual 2024 | %2023-2024 | 10-Year Average |
|---|---|---|---|---|---|---|
| N/A | TOTAL ALL INDUSTRIES | $34,372,866,157 | $27,743,741,273 | $34,062,006,094 | 22.77 | $26,471,230,715 |
| 334 | Computer And Electronic Products | $12,731,376,386 | $8,454,906,398 | $14,146,057,111 | 67.31 | $11,156,149,865 |
| 336 | Transportation Equipment | $4,285,878,272 | $7,293,205,938 | $5,754,522,606 | -21.10 | $2,921,670,954 |
| 333 | Machinery, Except Electrical | $6,247,616,204 | $3,442,379,953 | $4,334,819,740 | 25.93 | $3,784,500,504 |
| 325 | Chemicals | $3,650,890,507 | $1,947,299,089 | $2,781,050,680 | 42.82 | $2,286,629,275 |
| 111 | Agricultural Products | $1,790,176,010 | $1,192,706,292 | $1,741,341,742 | 46.00 | $1,709,503,265 |
| 335 | Electrical Equipment, Appliances, And Component | $633,119,365 | $639,327,206 | $654,213,430 | 2.33 | $482,517,986 |
| 326 | Plastics And Rubber Products | $609,191,559 | $667,094,166 | $617,734,396 | -7.40 | $329,972,099 |
| 332 | Fabricated Metal Products, Nesoi | $629,299,131 | $584,936,981 | $521,355,559 | -10.87 | $407,472,165 |
| 311 | Food And Kindred Products | $580,924,553 | $528,141,185 | $513,269,830 | -2.82 | $598,855,559 |
| 331 | Primary Metal Manufacturing | $451,408,917 | $462,476,105 | $508,210,179 | 9.89 | $384,830,881 |
| 339 | Miscellaneous Manufactured Commodities | $502,153,321 | $489,073,351 | $505,963,367 | 3.45 | $393,900,687 |
| 321 | Wood Products | $582,558,838 | $518,736,572 | $473,357,066 | -8.75 | $461,247,354 |
| 910 | Waste And Scrap | $424,517,774 | $316,516,817 | $334,952,124 | 5.82 | $280,353,564 |
| 316 | Leather And Allied Products | $351,943,958 | $299,246,476 | $333,166,448 | 11.34 | $355,918,031 |
| 327 | Nonmetallic Mineral Products | $156,447,142 | $175,212,043 | $193,664,200 | 10.53 | $164,483,881 |
| 324 | Petroleum And Coal Products | $153,537,509 | $151,470,603 | $169,414,454 | 11.85 | $126,378,128 |
| 322 | Paper | $171,211,622 | $147,369,418 | $130,415,475 | -11.50 | $194,418,481 |
| 930 | Used Or Second-Hand Merchandise | $30,377,899 | $54,123,511 | $59,284,925 | 9.54 | $30,527,460 |
| 113 | Forestry Products, Nesoi | $103,177,558 | $95,421,690 | $51,934,419 | -45.57 | $77,150,587 |
| 312 | Beverages And Tobacco Products | $65,266,567 | $60,763,310 | $49,430,497 | -18.65 | $49,565,928 |
| 114 | Fish, Fresh, Chilled, Or Frozen And Other Marine P | $47,331,530 | $44,032,341 | $48,710,994 | 10.63 | $48,783,362 |
| 315 | Apparel And Accessories | $34,812,697 | $37,213,608 | $42,674,626 | 14.67 | $31,489,970 |
| 323 | Printing, Publishing And Similar Products | $25,568,333 | $22,725,074 | $18,721,108 | -17.62 | $20,615,525 |
| 337 | Furniture And Fixtures | $27,352,115 | $28,207,210 | $18,672,325 | -33.80 | $29,759,038 |
| 990 | Special Classification Provisions, Nesoi | $25,291,020 | $35,681,156 | $17,901,135 | -49.83 | $89,257,996 |
Oregon Exports by Destination Country
| Rank | Country | Annual 2022 | Annual 2023 | Annual 2024 | %2023-2024 | 10-Year Average |
|---|---|---|---|---|---|---|
| N/A | TOTAL ALL PARTNER COUNTRIES | $34,372,866,157 | $27,743,741,273 | $34,062,006,094 | 22.77 | $26,471,230,715 |
| 1 | Mexico | $5,226,591,836 | $6,567,614,362 | $6,263,332,317 | -4.63 | $2,114,118,632 |
| 2 | China | $8,449,950,218 | $4,031,600,733 | $5,858,689,283 | 45.32 | $6,497,617,575 |
| 3 | Malaysia | $2,363,605,537 | $2,616,610,969 | $4,675,305,111 | 78.68 | $2,321,600,196 |
| 4 | Canada | $3,443,361,520 | $3,492,102,583 | $3,282,660,556 | -6.00 | $2,998,357,786 |
| 5 | Vietnam | $728,134,238 | $680,688,886 | $2,701,792,213 | 296.92 | $1,292,038,250 |
| 6 | Korea, Republic Of | $1,506,749,524 | $1,137,924,663 | $1,326,259,759 | 16.55 | $1,431,475,706 |
| 7 | Japan | $1,570,178,486 | $1,192,883,211 | $1,303,536,960 | 9.28 | $1,565,413,078 |
| 8 | Ireland | $2,128,729,513 | $1,252,048,215 | $869,901,939 | -30.52 | $705,150,903 |
| 9 | Taiwan | $1,137,838,631 | $727,737,573 | $843,890,618 | 15.96 | $886,983,060 |
| 10 | Israel | $1,313,214,462 | $939,120,889 | $791,024,469 | -15.77 | $949,621,996 |
| 11 | Netherlands | $336,192,333 | $318,959,523 | $542,732,290 | 70.16 | $360,695,718 |
| 12 | Brazil | $913,806,545 | $251,754,565 | $457,141,416 | 81.58 | $352,629,133 |
| 13 | Singapore | $490,531,170 | $355,300,381 | $430,093,264 | 21.05 | $482,666,930 |
| 14 | Germany | $418,256,177 | $436,539,834 | $405,554,450 | -7.10 | $429,114,888 |
| 15 | Hong Kong | $258,509,134 | $238,026,264 | $336,263,316 | 41.27 | $259,826,442 |
| 16 | United Arab Emirates | $121,187,973 | $179,938,111 | $330,529,817 | 83.69 | $160,875,901 |
| 17 | Philippines | $362,533,517 | $281,670,631 | $324,085,462 | 15.06 | $360,062,756 |
| 18 | Australia | $361,987,802 | $319,050,865 | $298,329,049 | -6.49 | $355,892,659 |
| 19 | Switzerland | $465,624,707 | $144,359,040 | $255,640,710 | 77.09 | $318,118,639 |
| 20 | United Kingdom | $179,865,096 | $204,628,250 | $238,697,574 | 16.65 | $281,149,379 |
| 21 | France | $205,655,793 | $218,103,838 | $204,572,366 | -6.20 | $187,168,355 |
| 22 | Italy | $170,118,668 | $156,792,940 | $190,253,064 | 21.34 | $137,290,941 |
| 23 | Hungary | $109,196,983 | $142,956,063 | $173,226,655 | 21.17 | $94,015,585 |
| 24 | Thailand | $190,723,554 | $130,573,266 | $135,589,690 | 3.84 | $207,749,321 |
| 25 | India | $142,932,387 | $117,197,604 | $134,201,478 | 14.51 | $131,583,884 |
Oregon Imports
Below are Oregon import statistics by industry and source country. The industries are listed by North American Industry Classification System (NAICS). Semiconductor and semiconductor related products top the list, largely used in production of Oregon’s semiconductor industry. Batteries, LED, and wiring also are imports included in that category. Passenger vehicles largely make up NAICS 336.
Oregon Imports by Industry
| NAICS | Description | Annual 2022 | Annual 2023 | Annual 2024 | %2023-2024 | 10-Year Average |
|---|---|---|---|---|---|---|
| N/A | TOTAL ALL INDUSTRIES | $28,864,488,957 | $19,359,597,353 | $28,231,764,118 | 45.83 | $20,553,296,342 |
| 334 | Computer And Electronic Products | $5,585,166,641 | $4,012,880,593 | $9,220,327,548 | 129.77 | $4,545,185,477 |
| 336 | Transportation Equipment | $5,217,431,391 | $2,315,611,317 | $4,325,629,747 | 86.80 | $3,091,931,031 |
| 333 | Machinery, Except Electrical | $5,268,937,073 | $3,546,606,256 | $3,884,405,894 | 9.52 | $3,335,075,499 |
| 335 | Electrical Equipment, Appliances, Comp. | $1,141,358,546 | $1,177,375,026 | $1,795,965,706 | 52.54 | $934,976,877 |
| 325 | Chemicals | $2,753,325,844 | $1,522,626,406 | $1,651,696,063 | 8.48 | $1,574,278,998 |
| 980 | Returns To Canada (Exp);Us Returns/Reimports (Imp) | $897,170,095 | $602,255,745 | $831,381,336 | 38.04 | $1,130,454,185 |
| 315 | Apparel And Accessories | $737,004,759 | $453,040,885 | $764,313,625 | 68.71 | $555,350,562 |
| 321 | Wood Products | $1,141,596,885 | $810,259,551 | $740,466,641 | -8.61 | $817,162,147 |
| 331 | Primary Metal Manufacturing | $518,880,783 | $585,709,485 | $656,044,177 | 12.01 | $574,534,328 |
| 326 | Plastics And Rubber Products | $660,670,249 | $499,381,261 | $637,116,092 | 27.58 | $532,217,740 |
| 324 | Petroleum And Coal Products | $694,883,413 | $698,092,725 | $624,402,596 | -10.56 | $337,232,065 |
| 332 | Fabricated Metal Products, Nesoi | $706,453,279 | $527,345,581 | $555,970,561 | 5.43 | $497,176,674 |
| 311 | Food And Kindred Products | $672,871,254 | $587,703,428 | $555,961,256 | -5.40 | $499,950,269 |
| 339 | Misc. Manufactured Commodities | $587,514,286 | $360,967,286 | $396,610,694 | 9.87 | $342,854,901 |
| 327 | Nonmetallic Mineral Products | $284,141,049 | $255,077,512 | $262,764,335 | 3.01 | $248,752,915 |
| 111 | Agricultural Products | $308,645,157 | $271,291,224 | $227,585,267 | -16.11 | $261,809,265 |
| 316 | Leather And Allied Products | $499,429,722 | $203,774,926 | $194,564,337 | -4.52 | $256,819,761 |
| 337 | Furniture And Fixtures | $226,595,700 | $160,035,536 | $173,024,322 | 8.12 | $236,225,228 |
| 322 | Paper | $205,722,550 | $146,536,236 | $123,589,752 | -15.66 | $139,229,388 |
| 314 | Textile Mill Products | $112,558,928 | $77,957,028 | $81,523,648 | 4.58 | $84,137,277 |
| 112 | Livestock And Livestock Products | $70,527,692 | $61,284,739 | $72,315,784 | 18.00 | $54,416,955 |
| 312 | Beverages And Tobacco Products | $68,647,512 | $68,825,185 | $63,126,909 | -8.28 | $66,628,022 |
| 930 | Used Or Second-Hand Merchandise | $74,098,692 | $68,240,595 | $62,360,363 | -8.62 | $49,435,390 |
| 114 | Fish, Fresh, Chilled, Froz, Other Marine P | $83,725,288 | $72,600,799 | $59,081,696 | -18.62 | $71,972,851 |
| 910 | Waste And Scrap | $46,166,664 | $37,576,059 | $53,031,734 | 41.13 | $38,519,551 |
Oregon Imports by Country
| Rank | Description | Annual 2022 | Annual 2023 | Annual 2024 | %2023-2024 | 10-Year Average |
|---|---|---|---|---|---|---|
| N/A | TOTAL ALL PARTNER COUNTRIES | $28,864,488,957 | $19,359,597,353 | $28,231,764,118 | 45.83 | $20,553,296,342 |
| 1 | Japan | $5,614,889,712 | $3,231,175,921 | $4,749,822,257 | 47.00 | $2,890,321,138 |
| 2 | Taiwan | $1,253,651,898 | $1,410,123,792 | $4,504,056,094 | 219.41 | $1,111,774,994 |
| 3 | Canada | $5,528,330,660 | $4,110,487,657 | $3,826,893,091 | -6.90 | $3,486,611,991 |
| 4 | China | $2,916,219,321 | $2,046,586,709 | $2,680,376,446 | 30.97 | $2,474,916,355 |
| 5 | Korea, Republic Of | $2,823,145,334 | $724,986,499 | $1,624,287,898 | 124.04 | $1,929,274,535 |
| 6 | Israel | $1,384,484,768 | $767,625,213 | $1,261,113,641 | 64.29 | $932,340,188 |
| 7 | Germany | $733,384,081 | $751,099,684 | $1,006,051,506 | 33.94 | $683,157,577 |
| 8 | Singapore | $924,481,014 | $715,962,551 | $993,216,503 | 38.72 | $467,068,975 |
| 9 | Malaysia | $663,446,847 | $580,560,616 | $904,970,221 | 55.88 | $425,857,038 |
| 10 | Mexico | $910,768,544 | $895,685,185 | $840,069,040 | -6.21 | $890,564,919 |
| 11 | Ireland | $1,515,099,504 | $600,883,167 | $765,021,900 | 27.32 | $1,418,204,615 |
| 12 | Netherlands | $849,090,007 | $473,679,417 | $702,937,215 | 48.40 | $719,260,908 |
| 13 | Vietnam | $822,554,889 | $484,604,281 | $575,067,688 | 18.67 | $550,297,492 |
| 14 | India | $295,175,721 | $228,500,760 | $574,505,943 | 151.42 | $222,824,486 |
| 15 | Thailand | $220,036,185 | $222,485,585 | $557,738,033 | 150.69 | $255,764,024 |
| 16 | Switzerland | $178,332,071 | $204,952,212 | $274,737,574 | 34.05 | $174,569,200 |
| 17 | United Kingdom | $170,710,544 | $185,936,230 | $227,564,332 | 22.39 | $167,202,332 |
| 18 | Jordan | $17,898,240 | $25,855,864 | $202,987,793 | 685.07 | $27,951,784 |
| 19 | Czech Republic | $103,328,528 | $128,019,406 | $185,585,943 | 44.97 | $73,733,691 |
| 20 | Italy | $257,710,266 | $192,044,024 | $171,025,699 | -10.94 | $166,699,361 |
| 21 | Austria | $96,225,406 | $149,673,932 | $119,379,486 | -20.24 | $77,993,107 |
| 22 | Indonesia | $150,212,262 | $119,477,303 | $114,370,830 | -4.27 | $117,404,718 |
| 23 | Egypt | $28,059,413 | $32,910,555 | $106,353,780 | 223.16 | $21,477,385 |
| 24 | France | $154,783,556 | $139,002,314 | $101,465,963 | -27.00 | $127,337,493 |
| 25 | Denmark | $42,290,977 | $43,687,478 | $84,620,792 | 93.70 | $37,964,468 |
Source: http://www.wisertrade.org, with data from U.S. Census Bureau, Foreign Trade Division. Analysis of data by Business Oregon. Data from March 2025.
Reposted from: https://www.oregon.gov/biz/programs/Export/trade/Pages/default.aspx
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