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HSBC Sees 2026 as Turning Point After Trade-Heavy 2025
HSBC Asset Management expects 2026 to be a transition year for the global economy after 2025’s tariff-driven trade disruptions and policy-led uncertainty.
As 2025 draws to a close, global economic trends suggest the year will be defined by heightened trade frictions and tariff related policy actions. The study describes 2025 as a “tariff-ied” phase that reshaped global supply chains and investment flows. Looking ahead, 2026 is expected to mark a transition period, with economies adjusting to new trade dynamics, policy realignments, and stabilising growth conditions.