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The bank said on Wednesday its TradePay platform was being extended to directly cover the cost of tariff payments, allowing importers to effectively borrow to meet the increased expenses involved in shipping products into the US.
“By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital,” said Vivek Ramachandran, head of global trade solutions at HSBC.
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