Tariff Sector Vulnerability Index
Which sectors are more resilient in the face of tariffs?
The last two months have seen a barrage of US tariff announcements, backtracks, and retaliatory tariffs placed on the US, culminating in the so-called “Liberation Day” announcements on 2 April and partial retreat on several tariffs a week later. In response, we have developed the Tariff Sector Vulnerability Index to evaluate sectoral exposure to US tariffs, providing insights for strategic planning and supply chain management amid shifting trade dynamics.
What you will learn:
- Electronics, electricals, motor vehicles are most exposed globally to US-imposed tariffs.
- The food and beverage manufacturing sector, by contrast, appears less vulnerable to tariff disruptions. Both globally and in the US, the sector tends to be more domestically oriented with shorter supply chains.
- In the current environment, the indirect impact of tariffs and policy uncertainty on business confidence and investment is arguably having a larger impact on global growth than the direct impact from the tariffs themselves. This will amplify the impact on many of the sectors that are directly vulnerable to tariffs.
Download the full report to explore each sector’s positioning against tariffs.
About Tariff Sector Vulnerability Index
The Oxford Economics Tariff Sector Vulnerability Index evaluates sector vulnerability based on five factors: export intensity to the US; overall export intensity; the US’s share of global manufacturing output; the import-intensity of US inputs; and the Product Complexity Index. This index is built on structural metrics and remains neutral to specific tariff announcements. Detailed methodology is available in the report’s appendix.
