2025-05-09T11: 38: 01Z
- HSBC has created a loan designed to help companies manage the cost of prices.
- HSBC Tradepay for import rights is an extension of an already existing program.
- Companies rushed to determine how to deal with the cost of prices.
The HSBC banking giant has launched a new financing service to help its customers manage the additional costs caused by the trade war launched by President Donald Trump’s prices.
HSBC Tradepay for import rights allows companies to access credit and make payments. He adds to an already existing program launched in 2023 to help companies manage international trade costs.
The Bank and Financial Services Company whose head office is in London said that the platform could be used to cover the cost of import rights, helping to meet the additional costs associated with the prices.
According to HSBC, since the launch of Tradepay, it has made $ 2.3 billion in commercial funding accessible worldwide.
“By adjusting the import duties directly and without friction via HSBC Tradepay, our American customers have more visibility and control over their working capital when they need it,” said Vivek Ramachandran, head of Global Trade Solutions, in a press release.
Since Trump announced his so-called “Liberation Day” rates in April, US companies rushed to meet the cost of increased samples on goods. Some have said that they would absorb costs, while many have transmitted these costs to customers.
Last week, HSBC posted a profit before tax of $ 9.5 billion, compared to $ 7.8 billion, in the first quarter of 2025. He exceeded revenue expectations of $ 980 million and announced a sharehold share of up to $ 3 billion.
businessinsider
