The time of global globalization will end due to Trump

British Sir Mark Taker, Chairman of the HSBC Bank and well -known financial expert, warned that the escalation of trade tensions in light of the return of Trump’s customs definitions may lead to grave risks that threaten economic growth and end the time of global globalization, according to the British newspaper “The Guardian”.
Globalization is in danger
Taker said in his speech during the global investment summit organized by the bank in Hong Kong, that globalization in its known form “may have reached its end”, in light of the increasing pressure resulting from customs duties and geopolitical policies.
He explained that these tensions have caused a state of global economic uncertainty, which poses a “possible risk to global growth,” according to the Financial Times.
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Regional blocs instead of comprehensive globalization
Taker pointed out that the world may witness during the next stage a strengthening of regional economic relations between trade blocs, rather than relying on the traditional globalization system.
He believed that the markets may tend to reshape economic balances, which could create new opportunities for cooperation between blocs such as the BRICS Plus Group.
Trump returns with new customs duties
Since his second term in January 2025, US President Donald Trump re -imposed customs duties on several major commercial partners, including Canada, Mexico and China, as well as global definitions of major goods such as steel and aluminum.
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Despite the European reaction, which is a retaliatory measure that is scheduled to start in April, the United Kingdom has chosen a pragmatic approach by negotiating a more comprehensive trade agreement with the United States.
The Trump administration is expected to announce a new round of customs duties on April 2, including multiple countries around the world, under the name “reciprocal fees”.
The slowdown of American growth on the doors
In the same context, the US Federal Reserve recently reduced its expectations for the growth of the American economy and raised its estimates of the inflation rate, while maintaining interest rates unchanged.
Federal President Jerome Powell pointed out that some high inflation “is clearly linked to new customs duties,” in reference to the impact of commercial policy on the macroeconomic economy.
The end of the global growth pillar
Taker explained that global supply chains, which were built on purely economic considerations, were the cause of one of the greatest periods of creation in the world. But this balance has changed now, and what was in the past is no longer so in light of the escalation of political and economic tensions.
Nevertheless, Taker ruled out a “complete geographical disintegration of globalization”, instead we witnessed the reshaping of commercial relations, especially among emerging economies.
A stronger sound of developing economies
The Brex Group has expanded to include alongside the institutions (Brazil, Russia, India, China, South Africa), the Emirates, Egypt, Iran, Ethiopia, and Indonesia.
Taker believes that this expansion will give the group a greater role on the global scene and enhance economic ties between emerging markets.
Taker said that HSBC has a wide network that allows its customers to reach 85% of global trade flows, and is one of the most prominent international banks in the fields of foreign exchange and payment services.
The bank is witnessing a restructuring phase since last October, led by its new CEO, George Al -Haddiri, who divided the operations into eastern and western markets with the aim of reducing costs and adapting to the complex geopolitical environment.
The future of economic relations
Taker stressed that the economic ties between Asia and the Middle East will witness remarkable growth in the coming years, which is the focus of the HSBC Bank.
He added that these growing relationships indicate great growth capabilities, especially with the possibilities of joining more emerging markets to the BRICS group, which gives it a stronger voice in drawing the features of the new global economy.