HSBC sounds alarm on trade war; Trump to soften blow of automotive tariffs – business live

News Snapshot:

From 2h ago 02.22 EDT Introduction: HSBC sounds alarm on tariffs as bad debt provisions rise Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Companies around the world are calculating the impact of Donald Trump’s trade war, and today we’re hearing from one of the world’s largest banks. HSBC has set aside more money for bad debts this morning, warning that the economic outlook has deteriorated due to “geopolitical tensions and higher trade tariffs”. HSBC has increased its expected credit losses (ECL) to $900m in the first quarter of 2025, which...