U.S. companies are adjusting to an evolving global trade environment and reassessing supply chain and investment decisions, with a majority implementing operational changes, while remaining broadly optimistic about long-term international growth, according to HSBC’s second installment of its “Trade Pulse” survey. HSBC, the world’s largest trade bank, facilitates more than $850 billion in trade finance annually.
The survey captured responses from over 6,750 internationally active companies across 17 global markets, including 1,000 based in the United States.
“As global trade continues to evolve, U.S. corporates are responding with agility and confidence,” said Ajit Menon, U.S. head of global trade solutions. “With change comes opportunity, and U.S. companies are finding innovative ways to recalibrate supply chains, optimize technology and more efficiently manage their capital to build resiliency and position themselves for the future.”
Market Trends
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. U.S. companies feel better equipped than global peers to manage ongoing disruption, with 52% saying they feel informed and prepared (vs. 36% globally).
Additionally, 40% of U.S. respondents say they feel more certain about trade policy compared with six months ago (vs. 26% globally).
U.S. businesses also stand out for following three main diverse coping strategies taken in response to trade uncertainty compared to their global counterparts:
- 49% of U.S. companies are developing risk management plans.
- 48% are revising their pricing strategies.
- 44% are diversifying revenue streams.
Global Ambitions Endure
In addition to employing diversification strategies, U.S. businesses are increasing their sales to key markets and their reliance on specific regions. These markets include the U.K., France, Australia, Brazil and Japan.
Meanwhile, they are significantly growing their strategic approach and reliance on key regions such as North America (+20 points versus the global average), Europe, South America and Oceania. Larger firms are driving this shift, with 65% of businesses over $2 billion in revenue increasing their reliance on North America and 63% on Europe.
In addition, 51% of U.S. companies say they are considering or in the process of increasing production in the domestic market.
Working Capital Pressures
Rising costs are elevating liquidity and cash flow concerns: 73% of U.S. companies report greater pressure on working capital, significantly above the global average of 60%. In response, 61% have focused on improving internal efficiencies and cost structures.
Broader Implications for Global Trade
As tariff regimes, supply chain routes and geopolitical risks continue to evolve, companies are preparing for another period of rapid change. The latest “Trade Pulse” survey findings underscore how U.S. corporates are not only absorbing near-term pressures, but actively repositioning for growth, operational flexibility and new market strategies to compete in an increasingly interconnected global economy.
