New research suggests global companies are rethinking their strategy and planned investments, as tariffs and shifting trade policies continue to impact their business.
HSBC’s 2025 Global Trade Pulse Survey captures the views of 5,700 international firms across 13 markets.
Two thirds of those surveyed have already experienced cost increases due to tariff and trade uncertainty.
Over 70% said they expect costs to escalate further in the short and long-term.
Businesses also expect an average decline in revenues of 18% due to supply chain delays.
Over half of respondents feel rising costs are the number one concern for supply chain strategies .
Meanwhile, 85% have revised or plan to revise their pricing strategy upwards to reflect higher costs or market changes.
Despite the uncertainty, almost 90% of businesses are confident about their ability to grow international trade over the next two years.
“The current landscape of tariffs and trade uncertainty presents significant challenges for businesses, but they are showing great resilience and adaptability in the way they operate,” said Vivek Ramachandran, Head of Global Trade Solutions at HSBC.
“With over 70% of companies anticipating sustained cost increases, and businesses facing an average 18% drop in revenue, the imperative for strategic adaptation is clear.
“Navigating this climate requires not only agility, but strong partnerships to ensure sustained growth in a shifting global economy,” he added.
