HSBC flags 2025 as 'tariff-ied' year, sees 2026 as turning point

HSBC Asset Management describes 2025 as a "tariff-ied" year marked by higher trade barriers and supply chain disruption, with 2026 set to be a key transition phase. The report warns of global growth shifts and external pressures, while noting India's strong domestic fundamentals despite rupee weakness and trade-related challenges.