HSBC has launched a new financing solution aimed at helping US businesses manage the financial strain of rising import tariffs sparked by former President Donald Trump’s recent trade policies. The product, named HSBC TradePay for Import Duties, is designed to ease the burden of upfront payments associated with tariffs and import duties.
Without directly naming Trump or the ongoing international tariff tensions, HSBC acknowledged that corporations are experiencing “changing working capital needs and increased upfront commitments.” The new tool enables HSBC clients to access credit and pay import duties directly through the bank in a seamless and streamlined process.
TradePay makes payments on behalf of clients, either through pre-arranged credit terms with customs brokers or via direct ACH credits. This removes friction from the process and provides greater liquidity and flexibility for companies navigating the complex global trade environment.
Vivek Ramachandran, head of global trade solutions at HSBC, emphasized the bank’s proactive approach: “Clients’ working capital needs are evolving—and we’re responding swiftly with solutions that deliver the most value to them. 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.”
With U.S. businesses facing renewed economic pressures from escalating tariffs, HSBC’s offering could become a vital tool for companies looking to protect their cash flow and maintain operational stability.