HSBC Bank has introduced a new financial instrument, Tradepay For Import Duties, which is designed to help US imports pay large-scale customs duties set by President Trump on April 2. The service allows you to pay customs duties through the Bank, or in advance due to credit terms or direct ACH transmission, Reuters reports.
"With this system, our customers can manage their circulating capital without delays," he said.
This is the bank's response to inflation and inflationary pressure in the United States, when new customs duties threaten to increase the prices of consumer goods.
