Global uncertainty and tariff risks continue to pressure the US economy, with HSBC Asset Management expecting growth of around 1.5% and further rate cuts from the Federal Reserve.

Yet, despite headwinds, Global CIO Xavier Baraton maintains a pro-risk but selective investment stance—identifying opportunities in emerging markets and reaffirming India’s long-term appeal as valuations turn more reasonable.

Below are the edited excerpts from the interview.

Q: There's so much happening globally. We are talking about tariffs, we are talking about inflation in some economies, and we are talking about growth possibly slowing down somewhere. What's your sense? How are we specifically looking at the US markets? Are the tariffs benefiting that economy?

A: At the moment, the tariff risk and global

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