Q4 Q U A R T E R LY E C O N O M I C R E P O R T
Georgia’s International Trade Landscape G E O R G I A C H A M B E R F O U N D AT I O N
Q4 Economic Report
Georgia’s International Trade Landscape
2025 Economic Reports: What to Expect The Georgia Chamber Foundation is excited to continue to produce tailored insights on issues of the utmost importance to the statewide business community. This year, these reports will align with the Georgia Chamber’s new strategic plan: GEORGIA|2050.
More information about GEORGIA|2050, the five pillars that comprise the strategic plan, and the focus of this report, international trade, is included below. The data included here illustrates top challenges and opportunities in the state, as well as actionable solutions to foster economic activity and increase opportunity for Georgians. GEORGIA|2050 is built to help our businesses navigate the fastest economic transitions in history and ensure the state of Georgia remains a beacon of prosperity and opportunity for the next 25 years and beyond. For decades, Georgia has thrived under a foundation of pro-growth, pro-business policies and visionary political leadership. This stability has sent a clear message to companies—both global and local—that Georgia is committed to their success. We have proven ourselves as a state that listens, acts, and partners with businesses to meet their challenges and cultivate a future of shared growth. This reliable environment has drawn quality investment, creating jobs and opportunities for generations to come. As we look to the future, we recognize this stability faces challenges. Political landscapes evolve, disruptions arise, and new risks emerge. GEORGIA|2050 is our bold initiative to anticipate risks and equip both current and future leaders with the tools they need to sustain and enhance Georgia’s business climate. This plan offers forward-thinking solutions to mitigate risk and capitalize on opportunities in an increasingly complex and interconnected global economy. GEORGIA|2050 is a plan with a clear purpose: to continue convening, educating, equipping, and empowering our members, investors, and legislative partners with a foundation and blueprint for long-term economic policymaking. We stand as a united force for prosperity. Georgia’s future depends on the strength of its partnerships, from Main Street businesses to corporate giants, from locally elected leaders to the Governor’s Office, and from local chambers to our organization. Through GEORGIA|2050, we will elevate these partnerships, fostering a culture of corporate citizenship, free enterprise, and collaborative servant leadership.
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Q4 Economic Report
Georgia’s International Trade Landscape
Economic Development & Competitiveness Coordinated and consistent corporate recruitment and retention, as well as a world-class job creation environment, are the core of Georgia’s economic success. By fostering a business-friendly environment, GEORGIA|2050 ensures our ability to attract top investors, multi-national companies, and innovative enterprises to the state. This effort also focuses on regulatory clarity, curbing lawsuit abuse, advocating for policies that protect free enterprise, and minimizing red tape. By ensuring Georgia remains competitive on the global stage, businesses in our state can expand, innovate, and attract new talent and capital, driving growth across sectors.
Top Challenges Global conflicts, evolving trade negotiations, and subsequent agreements are creating uncertainty for Georgia businesses. These factors are causing companies to plan for contingencies and make constant adjustments as costs and regulations change rapidly. These trends will continue to impact businesses in the coming year.
Top Opportunities While global and national trends are creating instability, state leadership continues to invest in long-standing relationships with countries around the globe. Governor Brian Kemp has made numerous trade missions in 2025 to trade partners that have invested heavily in Georgia, continuing to highlight the state’s competitive advantage. This is securing opportunities for global brands to expand their presence, creating more opportunities for Georgians. Investments in our freight and logistics network will continue to be needed to support increased activity within our ports, railways, and roads that serve as critical transportation and logistics hubs for Georgia companies.
Key Insights
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6.4% export growth vs. 2.3% nationally.
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Q4 Economic Report
Georgia’s International Trade Landscape
2024 Highlights: Exports and Imports Georgia’s Global Footprint Georgia has international trade, investment, and tourism representatives in 12 strategic markets located throughout Europe, the Middle East, Asia, and the Americas. International trade representatives provide Georgia companies with market intelligence, export assistance, and tailored guidance. They also help market Georgia to foreign companies around the globe for relocation and expanding operations.
A Structural Shift in Partners For the first time in 2024, Mexico overtook China as Georgia’s top overall trading partner, reflecting North American supply-chain realignment, near-shoring, and diversified sourcing strategies.
Top Products & Markets: Exports Leading categories: advanced manufacturing – specifically aerospace, automotive and EV supply chains, medical technologies, chemicals, and value-added agriculture. Top markets: Canada, Mexico, China, the Netherlands, Germany.
Top Products & Sources: Imports
Leading categories: vehicles and machinery, electronics and semiconductors, petroleum and refined inputs, and industrial components. Top sources: Mexico, China, South Korea, Germany, Vietnam.
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Recent Growth Trends (2022–2024) Georgia’s export growth has outpaced the national average, driven by higher-value manufactured goods and resilient logistics.
• Exports kept breaking records: $47.26 billion in 2022, $49.7 billion in 2023, and $53.1 billion in 2024.
• In 2024, export value rose 6.4% year-over-year vs. 2.3% nationally.
• China led total trade in 2022 ($28.94 billion) and 2023 ($21.4 billion), but Mexico moved to #1 in 2024 at $25.0 billion, with China second at $20.3 billion.
• Imports show a clear pivot: China was the leading source in 2022; by 2024, Mexico held the top spot, and South Korea was firmly embedded in the top tier, consistent with evolving auto, battery, and components flows into Georgia.
• On the export side, Canada remained the anchor customer throughout, while Mexico’s importance grew, highlighting the importance of free trade in North America.
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Q4 Economic Report
Georgia’s International Trade Landscape
Recent Tariff Activity Impacting Key Markets Global trade policy at the federal level remained fluid throughout 2024–2025. In addition to industry specific tariffs on materials such as steel, aluminum, auto parts, copper, timber, and cabinets and furniture; country specific tariffs have been imposed on some of Georgia’s key trade partners. Several developments with implications for Georgia exporters and importers include:
Canada Recent Tariff Activity Last adjusted on August 1st, the United States imposed a 10% tariff on energy, energy resources, and potash from Canada. Additionally, all other products have a tariff rate of 35%. However, goods entering under the United States-Mexico-Canada Agreement (USMCA) carry no tariff rate. Over 85% of Canadian exports to the United States access our markets duty-free due to USMCA compliance. Trade Profile Canada’s top exports to the U.S. are energy products and vehicles; top U.S. exports to Canada include vehicles, machinery, and energy products.
Mexico Recent Tariff Activity As of August, the United States applies a 25% tariff to Mexican goods that do not qualify under the USMCA. Entries that meet USMCA rules of origin remain duty-free; Mexico’s economy ministry and press reports indicate roughly four-fifths of flows qualify, leaving most trade unaffected by the 25% rate. Steel, aluminum, and copper continue to face higher legacy rates per prior actions. Trade Profile Mexico’s top exports to the U.S. are vehicles, machinery, and electrical machinery; top U.S. exports to Mexico are electrical machinery, machinery, energy products, vehicles, plus major ag sales.
China Recent Tariff Activity A China-specific truce extension kept the currently implemented U.S. tariff cap at 30% on Chinese imports during the latest 90-day window (extended August 12, 2025), averting previously signaled step-ups. Section 301 duties still overlay this framework. No new China-specific increase has entered into force since the extension. Trade Profile Top U.S. imports from China include electronics/computers, electrical machinery, and consumer goods; top U.S. exports to China include agricultural products, aircraft and parts, and energy/ industrial inputs.
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Germany Recent Tariff Activity Under the implemented U.S.–EU agreement framework, most EU autos and parts entering the U.S. face a 15% tariff, retroactive to entries on or after August 1, 2025; implementation was confirmed in late September, with certain sectoral carve-outs published alongside. Trade Profile Germany’s top exports to the U.S. include vehicles, machinery, and pharmaceuticals; top U.S. exports to Germany include cars/transport equipment, crude petroleum, and gas turbines.
Netherlands Recent Tariff Activity As of August 21, 2025, the United States and European Union formalized their agreement, which applies to the Netherlands as an EU member. Most EU-origin goods face a 15% U.S. tariff. Beyond tariffs, the deal anticipates large energy and technology flows: the EU intends to procure U.S. LNG, oil, and nuclear products with an expected offtake valued at $750 billion through 2028, purchase at least $40 billion in U.S. AI chips for European computing centers, and deepen U.S.–EU collaboration on tech-security standards, while European firms are expected to invest an additional $600 billion in U.S. strategic sectors through 2028. Trade Profile Netherlands’ top exports to the U.S. include vaccines/biologics, refined petroleum, and semiconductor machinery; top U.S. exports to the Netherlands include crude petroleum, aircraft/parts, and medical instruments.
South Korea Recent Tariff Activity The U.S. currently has a 15% reciprocal tariff imposed on South Korean imports. Seoul and Washington are negotiating a package in which South Korea would provide roughly $350 billion of investment in the United States in exchange for reduced U.S. tariffs on Korean goods, with the stated goal to have the trade deal finalized by the end of October. Trade Profile Korea’s top exports to the U.S. include vehicles and electronics; top U.S. exports to Korea include energy (LNG/crude), aircraft/parts, and high-tech components.
Vietnam Recent Tariff Activity Unchanged since August, a 20% U.S. tariff applies to verified Vietnamese exports, with a 40% rate for products linked to China. Vietnam will also drop many tariffs on U.S. cars, agriculture, liquefied natural gas, and other goods. Trade Profile Vietnam’s top exports to the U.S. include computers/electronics, phones, and furniture/apparel; top U.S. exports to Vietnam include semiconductors (chips), cotton, aircraft parts, and telecom equipment. gachamber.com/research
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Q4 Economic Report
Georgia’s International Trade Landscape
India Recent Tariff Activity Previously facing a reciprocal tariff rate of 25%, already one of the highest in Asia, the United States imposed an additional 25% tariff as a punitive action for India’s importing of Russian oil and natural gas, raising the total tariff rate to 50%. Trade negotiations continue with no recent developments. Trade Profile India’s top exports to the U.S. include pharmaceuticals, gems/jewelry, and engineering/electronics goods; top U.S. exports to India include energy (crude/petroleum), aircraft/parts, and machinery.
Recent Legal Developments The Supreme Court heard oral arguments for a pair of consolidated cases to address whether the International Emergency Economic Powers Act lets the president impose reciprocal tariffs on most imports and separate tariffs tied to fentanyl and border concerns. Were the Supreme Court to find the administration’s use of IEEPA improper, tariffs imposed under IEEPA would likely be refunded. These cases do not affect some other Trump tariffs, such as duties imposed on steel, aluminum, and copper to protect national security and the 25% duties on autos and auto parts using the same rationale.
Georgia’s Top Opportunities to Increase Competitiveness 1. Continue to Scale Airport and Freight Infrastructure Georgia can unlock faster, more reliable trade by continuing to expand air-cargo capacity at Hartsfield-Jackson Atlanta International Airport and key regional airports, adding modern cold rooms, and pursuing customs pre-clearance where feasible. At the ports, accelerating berth upgrades, yard densification, and on-dock rail will shorten handoffs to inland markets and reduce congestion on local roads. Coordinated last-mile fixes such as improved gate technology, truck appointment systems, and smart signals around logistics hubs will cut wait times and fees. Together, these projects improve schedule integrity for exporters and lower costs for importers.
2. Boost Trade Enablement for Small and Mid-size Exporters Many Georgia businesses are competitive on product and price but need help with export readiness, compliance, and buyer discovery. Georgia’s Department of Economic Development is the front door for first-time and occasional exporters. The International Trade team offers quick, practical help: export counseling, readiness assessments, company-specific market briefs, and vetted buyer or distributor introductions through Georgia’s representatives in 12 overseas markets. They also run trade missions and show pavilions, host inbound buyers, and provide virtual matchmaking so firms can test demand without standing up a foreign sales force.
3. Strengthen Talent Pipelines for Global Commerce Global trade runs on people who know logistics, customs, export operations, and international sales. Warehousing and logistics is one of Georgia’s fastest growing industries and possesses a clear need for talent. Georgia can scale short, stackable credentials at technical colleges and universities, align them with employer academies, and embed real-world projects with freight forwarders, brokers, and port operators. Clear pathways from certificate to associate’s to bachelor’s 10
programs will help students and adult learners move up the career ladder. Targeted scholarships and apprenticeships can fill hard-to-hire roles and keep talent in the state.
Georgia’s Top Challenges 1. International Uncertainty Frequent tariff changes and ongoing court challenges make it hard for companies to price contracts, choose suppliers, lock in multi-year investments, and navigate complex business challenges. Firms face moving targets on duty rates, product scope, and effective dates, which raise risk and ties up working capital. The result is slower decision-making, less certainty, and contingency plans that add cost throughout the supply chain.
2. Capacity & Congestion Risks Georgia’s trade volumes are growing faster than many peer markets, which puts pressure on berths, rail slots, road access, and airside operations. Without continued coordination among ports, railroads, trucking, and airports, small disruptions can ripple into longer dwell times and higher transport and storage fees. Targeted capacity adds, synchronized gate and train schedules, and better last-mile traffic management are essential to keep service reliable and costs in check.
3. Insurance & Financing Pressure Marine, cargo, and credit insurance have become more expensive and harder to place for certain lanes and commodities. At the same time, higher working-capital needs from longer lead times and safety stock tie up cash. This raises total landed cost and can push marginal export orders below breakeven, even when transportation capacity is available.
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Q4 Economic Report
Georgia’s International Trade Landscape
Spotlight: Gateways to Growth Ports & Air Cargo Georgia’s world-class logistics assets, led by the Georgia Ports Authority (GPA) and Hartsfield-Jackson Atlanta International Airport, are central to the state’s trade edge.
Georgia Ports Authority GPA has completed $3.2 billion of projects in the past decade and plans another $4.5 billion in capacity improvements over the next 10 years. The plan adds five big-ship berths within eight years and three more at the planned Savannah Container Terminal on Hutchinson Island. Phase 1 of the new container terminal is targeted for 2030, with ultimate buildout adding more than 3.5 million TEUs of annual capacity by the mid-2030s. The Mason Mega Rail Terminal is the largest on-terminal intermodal facility in North America. It sits on 85 acres, works 42 trains per week, and can handle up to ten 10,000-foot trains. Cargo moves from vessel to rail in about 24 hours, which shortens total transit and reduces in-port dwell. The project doubled Savannah’s rail lift capacity and routed switching inside the terminal to cut community crossings and improve fluidity. GPA is also investing in inland rail, including the Blue Ridge Connector and the Northeast Georgia inland port, which will connect by Norfolk Southern and CSX to Mason Mega Rail and handle around seven trains per week at full operation.
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Hartsfield-Jackson International Airport ATL is expanding cargo capability at Hartsfield-Jackson Airport through facility additions and the ATLNext capital program. More than $11 billion in modernization work has begun, with the broader capital plan now sized at over $18 billion. Cargo volumes grew in 2024 and reached roughly 646,000 metric tons according to airport and industry reporting, with year-over-year growth near 6 to 7 percent. ATL’s three cargo complexes provide more than 2 million square feet of warehousing, with improved cold chain connectivity introduced in May of 2025, allowing for improved pharmaceutical and biologics travel. In addition to a sixth runway and numerous passenger airline improvements, ATLNext will increase cargo efficiencies and introduce new cargo facilities.
South Cargo Expansion/Reconfiguration
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Q4 Economic Report
Georgia’s International Trade Landscape
Moving Forward Looking forward to 2026, uncertainty will remain surrounding tariffs and trade agreements as negotiations evolve between the Trump Administration and foreign governments. The adjustments companies have made this year will be needed to continue to navigate changing conditions. Prioritizing investments in our freight network will be invaluable to bolster the state’s competitiveness by easing congestion costs and accommodating increased growth. Additionally, central to Georgia’s competitive advantage will be preserving our strong business climate through thoughtful tax and regulatory policy to support investments despite national unpredictability.
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Sources •
Georgia Department of Economic Development (GDEcD), International Trade: Global Offices.
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Georgia Department of Economic Development (GDEcD), Georgia Sets Export Record in 2024.
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Georgia Ports Authority, Mason Mega Rail Terminal Overview.
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Georgia Ports Authority, Garden City Terminal: Capacity and Berth Upgrades.
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Georgia Ports Authority, Refrigerated Cargo Services.
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Georgia Ports Authority, Projects and Planning (Savannah Container Terminal, Hutchinson Island).
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Hartsfield-Jackson Atlanta International Airport (ATL), ATLNext Capital Program.
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Hartsfield-Jackson Atlanta International Airport (ATL), Air Cargo Program and Facilities.
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Freight Waves, DoKaSch Temperature Solutions opens new service station in Atlanta.
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U.S. Census Bureau, State Export Data (FT-900 series).
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Office of the United States Trade Representative (USTR), Country Fact Sheet: Canada.
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Office of the United States Trade Representative (USTR), Country Fact Sheet: Mexico.
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Office of the United States Trade Representative (USTR), People’s Republic of China.
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Office of the United States Trade Representative (USTR), European Union.
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Office of the United States Trade Representative (USTR), Republic of Korea (KORUS).
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Office of the United States Trade Representative (USTR), U.S.–Vietnam Bilateral Trade Agreement (BTA) Text.
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The White House, Fact Sheets and Proclamations on Tariff Measures (2025).
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Trade Compliance Resource Hub, Trump 2.0 Tariff Tracker.
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Reuters, South Korea and U.S. Make “Meaningful Progress” in Tariff Talks (Oct. 15, 2025).
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The New York Times, U.S. Doubles Tariffs on Indian Imports, Citing Russian Oil (Aug. 27, 2025).
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Export-Import Bank of the United States (EXIM), Working Capital and Export Credit Insurance.
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European Commission, EU–U.S. Trade Relationship Updates (2025).
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University of Georgia Small Business Development Center (UGA SBDC), ExportGA and Trade Services.
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Georgia Tech Advanced Technology Development Center (ATDC), International Market Entry Support.
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The White House, Adjusting Imports of Medium and Heavy-Duty Vehicles, Medium and Heavy-Duty Vehicle Parts, and Buses into the United States.
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