Trade & Supply Chain Finance

US president Donald Trump is causing chaos this week across global markets with a spate of tariffs set to take effect in the US on April 2, against a wide range of goods; Goldman Sachs is predicting an extra US rate cut this year, amid stagflation fears.

The window left for negotiation remains key for the market to understand the impact of tariff policies, according to experts speaking at HSBC’s summit in Hong Kong this week; overnight the White House has announced 25% tariffs on cars from April 3 and car parts from May 3.

The pharmaceutical firm expects its workforce in Beijing to grow to 1,700 employees and is launching a JV with BioKangtai to help make vaccines; there is also investment into AI.

The bank's regional Apac co-head of trade finance has said he is leaving to take a break; Aditya Gahlaut, has started as regional head, Asia, global trade solutions, at HSBC; the bank has also made changes in its regional payment leadership team.

PGIM research challenges the idea that globalisation has been derailed, despite tariffs ramping up.

Jennifer Barker, global head of treasury services and depositary receipts at BNY, recently discussed cross-border and instant payments, collaboration, Swift, AI, trade finance, and more, with CT.

Retail sales and industrial output have beaten expectations for January and February, as China's leadership eyes 5% GDP growth again; meanwhile global suppliers are showing optimism for the year ahead, according to a survey.

US inflation was lower than expected in February; the 2.8% read came as the US introduced global 25% tariffs on steel and aluminium imports; and then the EU and Canada retaliated; in Apac, Australian and Korean steelmakers are most at risk.

A swift change in tone from US president Donald Trump around tariffs show how his words and actions are having a volatile impact on Asia Pacific's currencies; they are likely to be on the defensive this year.

Amelia Ng, CEO of Olea, discussed the urgent need to close the gender gap in the trade finance space with CT.

US president Donald Trump appears to be moving ahead with tariffs on Canadian and Mexican goods, and additional tariffs on China. China has since placed retaliatory tariffs on many US products including soybeans, chicken and dairy products, of up to 15%.

Banks in the city can provide longer tenor trade finance services with higher volumes for both Chinese and international corporate clients, under a new HKMA arrangement; some firms have already secured liquidity.