HSBC has introduced TradePay for Import Duties, a financing service aimed at assisting businesses in managing costs associated with tariffs stemming from trade disputes. This service adds to an existing program and allows firms to access credit for import duties, which has become crucial as many businesses struggle to adapt to heightened costs. Since its launch, TradePay has facilitated $2.3 billion in trade finance. HSBC's recent financial results also highlight strong profit and revenue growth, indicating the bank's resilience amidst economic challenges.
By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital at the time they need it most.
Since launching TradePay, it has made $2.3 billion of trade finance accessible worldwide, addressing businesses' needs amidst the burden of tariffs.
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