Worldwide companies adjust to uncertain trade conditions HSBC survey

Business Report :

International businesses are adapting to a new global trade reality as they deploy diverse strategies to navigate evolving trade and tariff headwinds while managing rising costs and working capital pressures.

This is according to HSBC’s Global Trade Pulse survey, which gathers insights from 6,750 decision-makers across 17 markets regarding tariffs and trade.

The survey gathered 250 responses from Bangladesh between October 6-21, 2025, capturing sentiment on trade and tariffs among international corporates.
After a challenging first half of 2025, businesses globally are finding their footing and have more clarity on the trade and tariff landscape.

The survey reveals that 67 percent of businesses now feel more certain about the impact of trade policy on their operations than they did six months ago, while 77 percent say they can easily understand recent trade policy changes.This growing sense of certainty is a crucial first step in enabling firms to make informed decisions and plan ahead.

Preparedness for trade regulations has emerged as a key driver of business adaptability allowing companies to better respond to policy shifts and make strategy adjustments. In Bangladesh, 88 percent of the businesses say they are informed and either well prepared or actively preparing for changing trade regulations, slightly above the global average of 85 percent.

This is a small decline from 90 percent six months ago. Bangladeshi businesses report stronger positive revenue impacts from tariffs and trade uncertainty than the global average of 58 percent to date (vs 47 percent globally), rising to 62 percent in the next six months (vs 53 percent globally) and 64 percent over the next two years (vs 58 percent globally).

According to the survey, Bangladeshi companies are adapting to a new normal, 50 percent of Bangladeshi businesses say they are very confident that their business will be able to grow international trade over the next 2 years, compared to 41 percent globally.

Industry wide, 45 percent of Bangladeshi businesses in the Transport & Industrials are increasing sales in Germany, above the Bangladeshi average of 38 percent and significantly above the global average of 18 percent, while 41 percent of Bangladeshi businesses in the TMT sector are increasing sales in the UK, above the Bangladeshi average of 32 percent and significantly above the global average of 18 percent.

Around 40 percent of B2C Bangladeshi businesses are increasing sales in France, slightly above the Bangladeshi average of 38 percent and well above the global average of 16 percent.
Additionally, businesses are seeking new trade corridors to build resilience against instability.

Globally, Europe and Southeast Asia are the top destinations for expansion (40 percent and 36 percent respectively), followed by North America and East/North Asia (both 32 percent).
South Asian businesses lead in prioritizing Europe with 55 percent targeting expansion there. Conversely, North America is where companies plan to reduce reliance the most (22 percent) followed by South America (16 percent).

Vivek Ramachandran, head of global trade solutions at HSBC said: “Despite global negotiations and shifting tariffs, businesses appear to be settling into a steady state of constant adaptation. Improved clarity over trade and tariffs has emboldened businesses to plan ahead, with many seeing international trade not as a risk, but as an opportunity to reinvent.”

Md Mahbub ur Rahman, CEO, HSBC Bangladesh, said: “Bangladesh businesses are quickly adopting to global shifts, standing out for their resilience and optimism and our Trade Pulse survey confirms the same. With the strength of our global network, we remain confident to connecting them with new avenues of opportunities, trade or investment alike, around the world.”