HSBC Chairman Mark Tucker issued a stark warning on Friday about the mounting risks to global economic growth as international trade tensions intensify, creating significant uncertainty for global financial institutions.

During HSBC’s annual general meeting in London, Tucker emphasized that shifting trade dynamics — fueled by escalating tariff threats and geopolitical instability — have made it increasingly difficult for international banks to predict medium-term economic trends.

🗣️ “Global trade turmoil presents serious risks to economic growth,” Tucker said. “Despite the uncertainty, HSBC remains confident in delivering strong financial returns and meeting its 2025 performance targets.”

📈 HSBC Maintains Growth Outlook Despite Headwinds

The comments come as HSBC, one of the world’s largest trade-finance banks with a strategic focus on Asia, reaffirmed its ambitious earnings guidance following robust first-quarter profits. However, the bank also acknowledged potential threats from a looming global recession, fluctuating investor sentiment, and U.S. President Donald Trump’s expansive tariff policies.

HSBC’s trade-centric business model makes it more vulnerable than some European peers to disruptions in global supply chains, particularly those affecting China and key Asian markets.

🌱 Net Zero Goals and Climate Commitments Under Scrutiny

Alongside market concerns, sustainability issues also took center stage. HSBC reiterated its pledge to become a net zero bank by 2050 and announced a review of its interim financed emissions targets. This comes after the bank faced backlash for scrapping its goal to achieve net-zero operations by 2030 — a decision it attributed to slow progress across the broader economy.

At the London event, climate activists held a small protest, accusing HSBC and other financial institutions of exploiting shifting political priorities on climate change for financial gain. The concern was amplified by President Trump’s recent statements suggesting a rollback of U.S. climate commitments, which he argues hinder multinational corporations, particularly in emerging markets.