US container imports slump as China volumes collapse

US containerised import volumes fell sharply in May, led by a steep drop in shipments from China, according to the latest Global Shipping Report from Descartes Systems Group. The decline marks the first significant retreat in trade flows this year and offers early signs of the impact of rising tariffs and shifting US–China trade dynamics.

Total imports dropped 9.7% from April to 2.18 million TEUs (twenty-foot equivalent units), breaking a multi-month streak of growth. Compared with May 2024, volumes fell 7.2%, although they remain 4.3% above pre-pandemic levels from May 2019. The report notes that May typically sees a month-on-month increase in container volumes, making this year’s contraction an outlier, matched only by 2020 at the height of COVID-19 disruption.

The sharpest fall was in goods originating from China, where containerised shipments to the US fell by 20.8% month-on-month and 28.5% year-on-year. China’s share of US imports dropped to 29.3%, its lowest level in over two years. Major West Coast ports bore the brunt of the shift: volumes into Long Beach were down 31.6%, and Los Angeles saw a 29.9% drop.

East and Gulf Coast ports, meanwhile, gained modest market share, reflecting changes in sourcing and routing strategies as shippers respond to geopolitical uncertainty and trade policy shifts. Despite the fall in volumes, port congestion held steady across most gateways, although Los Angeles and Long Beach experienced some increases in delays.

For the first five months of 2025, total US container imports remain 5.3% above the same period in 2024. However, the gap has narrowed as the effects of tariff-related frontloading earlier in the year begin to unwind.

The outlook remains cautious, particularly for China-origin goods. New regulations affecting de minimis thresholds for low-value imports, coupled with volatility in tariff policy, may continue to reshape sourcing decisions and trade flows in the months ahead.

“After several months of import growth and following a wave of frontloading of shipments in April, the impact of new tariffs began to materialise in May,” said Jackson Wood, director of industry strategy at Descartes. “The effects of US policy shifts with China are also now clearly visible in monthly trade flows. While the 90-day agreement between the two countries to lower tariffs may bring US importers some short-term relief, China-origin imports may continue to soften in the months ahead as organisations continue to reassess sourcing strategies amid rising landed costs, and as changes to the US de minimis regulation for low-value Chinese imports continues to add cost pressures to trade.”

 

EIB triples support for defence SMEs with €3bn lending push

The European Investment Bank (EIB) is tripling its intermediated lending to €3bn to help small and mid-sized businesses across the EU’s defence supply chain access financing. The move, announced at the European Defence and Security Summit in Brussels, marks a significant step in the EU’s broader push to strengthen security, boost industrial resilience and increase strategic autonomy.

The expansion is being triggered through an inaugural €500m loan to Deutsche Bank, which will enable up to €1bn in financing and working capital for defence-related SMEs and Mid-Caps. These firms, often essential suppliers to larger manufacturers such as Airbus, Thales, Rheinmetall and Leonardo, play a critical role in defence technology and infrastructure but have historically faced challenges accessing affordable long-term capital.

The funding will be deployed via Deutsche Bank across the EU, supporting companies involved in defence and security projects, including military and police infrastructure. The partnership is the first commercial bank agreement under the EIB’s expanded Pan-European Security and Defence Lending scheme, with additional partnerships expected to follow.

The EIB’s defence lending envelope was first approved at €1bn in December 2024, but growing interest from commercial banks has prompted a threefold expansion. The initiative complements a broader pan-European effort launched last week by the EIB and national promotional banks from France, Germany, Italy, Poland and Spain. That agreement targets joint investment in areas such as R&D, industrial capacity and infrastructure.

Europe’s defence sector relies on more than 2,500 SMEs for essential technologies, components and services. Many of these firms have struggled with funding gaps due to their smaller size and specialist nature. By working through commercial banks like Deutsche Bank, the EIB aims to ease those constraints and accelerate investment at a time of heightened geopolitical risk.

The facility is intended not only to boost liquidity but also to support innovation and job creation in the defence sector. It reflects the EU’s growing focus on improving supply chain resilience and ensuring that critical manufacturing capabilities remain accessible within the bloc.

 

Irish fintechs defy global slowdown with strong VC backing

Ireland’s fintech companies are outperforming their global peers despite a broader contraction in venture capital activity, according to an Enterprise Ireland report based on data provided by PitchBook. While global fintech investment has slowed sharply since 2021, Ireland’s sector has remained resilient, buoyed by strong public support, investor interest, and a robust ecosystem. In 2023, Irish fintechs secured €266.3m in venture capital, the second-highest deal volume in a decade, at a time when fintech investment was stagnating across Europe. Though total investment fell to €77.6m in 2024, the number of deals held steady at 25, matching previous years and signalling continued appetite among early-stage investors.

Much of this activity was led or supported by Enterprise Ireland, which backed over 60% of Irish fintech VC deals each year for the past decade. Since 2018, it has invested more than €90m into its portfolio of over 200 fintech and related firms, helping them generate more than €600m in R&D. In 2024, Enterprise Ireland ranked as the third most active fintech investor in Europe. Ireland’s fintech output remains high relative to its population, with around 30 fintechs per million residents and one VC deal for every 100,000 people. The sector’s breadth spans regtech, payments, funds, ESG, and insurtech, with notable players such as Fenergo, Transfermate and CreditLogic continuing to attract funding and expand into new markets.

Looking ahead, EY forecasts suggest that Ireland’s financial services sector could grow by 26% by 2028, adding €3.4bn in gross value and increasing employment by 34% to 168,000 people. That growth will rely on Ireland overcoming a known funding gap in the €3-10m range, an issue that has slowed scale-ups across Europe. Yet the outlook remains optimistic. Ireland continues to benefit from a pro-business regulatory environment, favourable tax policies, and strong links between universities and industry. The government’s fiscal strength, bolstered by a 4.4% budget surplus in 2024, also gives it room to continue supporting the sector.

As the report notes, Ireland’s fintechs have already weathered Brexit, Covid-19, and global trade disruptions. With AI, embedded finance, and security solutions on the horizon, Ireland’s fintech ecosystem may be well placed to turn ongoing uncertainty into opportunity.

 

UK firms see opportunity in tariffs despite trade concerns

UK businesses are showing unexpected resilience and optimism in the face of escalating global trade tensions and new US tariffs, according to fresh research from Barclays. The bank’s Business Prosperity survey, conducted in late May and based on responses from 1,000 UK firms, found that while 79% express concern about tariffs and global uncertainty, many also expect net benefits for exports, profits and supply chain resilience.

Nearly half of respondents say they are already adjusting their US operations or supply chains, with some scaling back or delaying investment. Yet 44% of businesses report an increase in international trade over the past 12 months, and many acted early. Of those that expanded trade links, 59% turned to Europe and Central Asia in Q1 2025, compared to just 18% with North America and 10% with Asia-Pacific.

While 37% of firms expect a negative overall impact from US tariffs, others are more bullish: 36% predict improved profit margins, 37% expect stronger customer demand, and 34% anticipate growth in both export volumes and supply chain stability. This cautious confidence is underpinned by longer-term optimism. Some 86% of businesses say they feel confident about their prospects over the next three to five years, despite short-term volatility. Productivity is also moving up the agenda. Nearly half (46%) report it is a greater priority than a year ago, and 72% say hiring difficulties are constraining growth.

To address these challenges, 89% of firms are planning productivity improvements. Among their top strategies: upskilling staff through training (34%) and streamlining operations (32%). Investment intentions remain robust, with 46% planning to fund staff training, 39% targeting innovation and new product development, and 35% eyeing digital transformation. Despite this, many businesses remain cautious about borrowing. Almost four in five (79%) did not take on debt to invest in the past year, with 48% citing economic uncertainty and 34% deterred by high interest rates. Nonetheless, only 9% expect to hold off on investment entirely in the year ahead, a sign that underlying growth ambitions remain firm.

 

Basel Committee outlines voluntary climate risk disclosure framework

The Basel Committee on Banking Supervision has released a new voluntary framework for disclosing climate-related financial risks, aiming to support banks in presenting both qualitative and quantitative information on their exposures. The framework is not mandatory, and jurisdictions will determine whether and how to implement it at the national level.

In recognising the evolving nature of climate-related data, the Committee has allowed for flexibility within the framework. It emphasises that a combination of metrics and narrative disclosures may be needed to form a complete picture, and encourages users of the information to assess it holistically, considering the limitations of each component.

The release reflects the Committee’s view that improved transparency around climate risk is an important part of strengthening the financial system. However, given differences in data quality and reporting practices, the framework is intended as a reference rather than a binding standard.

The Committee will continue to monitor how internationally active banks adopt climate disclosure practices in member jurisdictions and will revisit the framework if revisions are warranted. For now, the emphasis remains on enabling consistency and comparability, without imposing additional requirements on banks as they navigate a complex and rapidly developing reporting landscape.

 

BofA clients embrace new $10m RTP limit

Bank of America clients are rapidly adopting the new US$10m transaction limit on the RTP network, following The Clearing House’s decision to raise the cap from US$1m. As one of the first banks to enable access to the higher threshold, BofA reports significant uptake from corporate clients, particularly for high-value use cases such as real estate transactions and deal closings.

According to BofA, in the six weeks since the limit was increased, transactions over US$1m now account for more than half the value of all RTP payments processed by the bank. A bar chart shared by the bank (below) shows a clear rise in volume, with Week 6 outpacing Week 1 and a greater share of payments exceeding the US$1m mark.

The expansion of the RTP network to support higher-value payments has broadened its applicability for corporates, particularly for time-sensitive and high-value transactions. As adoption continues to rise, companies are exploring use cases such as just-in-time supplier payments, real estate settlements and internal account transfers.

Jay Davenport, co-head of Global Payments Solutions Global Corporate Sales at BofA, said: “The instant nature of real-time payments is a huge advantage for optimising working capital and cashflow.”

 

Investec joins Kyriba Marketplace with real-time API payment solution

Investec has launched API-powered payment connectivity within the Kyriba Marketplace, enabling real-time payments for enterprise clients across Central and Eastern Europe, the Middle East, and Africa. The move expands Investec’s reach within Kyriba’s Bank-Connectivity-as-a-Service (BCaaS) ecosystem and allows joint customers to initiate payments directly from the Kyriba dashboard.

The integration allows businesses to connect seamlessly to their Investec accounts using Kyriba’s API network, which links over 9,900 banks through a range of protocols including API, host-to-host, and SWIFT. A US-based multinational is already live as the inaugural user of the new functionality.

The partnership aims to simplify access to digital payments infrastructure in emerging markets, particularly Africa, where demand for real-time payment solutions is rising. Devina Maharaj, head of Investec’s client API channel, said the launch supports more connected, efficient financial operations. “We’re excited to work together to streamline payment processes and help businesses across Africa unlock real-time efficiencies that can improve financial workflows.”

Kyriba and Investec say the solution can help finance teams improve data visibility, reduce reliance on manual processes, and strengthen cash flow management. These factors seen as increasingly important for companies operating across multiple jurisdictions and banking relationships.

 

Santander partners with Worldpay on merchant services in the UK

Santander UK has announced a partnership with Worldpay to offer improved payment services to its business banking and corporate clients. The agreement will allow customers to access Worldpay’s full range of payment solutions, including e-commerce capabilities and point of sale systems.

The partnership aims to enhance Santander’s offering across both its Business Banking and Corporate and Commercial Banking (CCB) segments. Smaller firms will be able to use flexible in-store and online payment tools, while larger businesses will benefit from tailored support, including access to dedicated e-commerce consultants.

Through the partnership, Santander customers will gain access to secure, scalable payment infrastructure that supports digital transformation and evolving customer expectations. The deal provides a new distribution channel for Worldpay and expands its reach among UK businesses.

The collaboration is designed to support growth and operational efficiency by offering payment solutions that are integrated, easy to use, and aligned with modern business needs. The move reflects continued demand from UK businesses for digital services that can help improve cashflow, reduce friction in customer transactions, and support long-term competitiveness.

 

XTransfer and BNP Paribas join forces on cross-border payments

XTransfer has signed a partnership with BNP Paribas designed to simplify and accelerate cross-border payment processes for businesses trading between China and Europe. The collaboration aims to reduce the cost and complexity of international transactions, with a particular focus on supporting European SMEs and Chinese exporters.

Under the agreement, XTransfer clients in China will gain enhanced access to Euro-denominated accounts, helping them collect payments from European customers more efficiently. At the same time, European SMEs will be able to use BNP Paribas’ infrastructure to send payments in Euros directly to Chinese suppliers, reducing foreign exchange friction and improving transaction transparency.

The partnership reflects growing demand for more integrated financial services in global trade, as bilateral flows between China and the EU continue to expand. In 2024, trade in goods between the two regions reached US$785.8bn, a 0.4% increase year-on-year, according to China’s customs data.

With plans to expand into additional currencies, the partnership is expected to offer broader support for SMEs engaging in global trade. The joint approach combines XTransfer’s cross-border B2B payments capabilities with BNP Paribas’ established European banking network, targeting faster settlement times and better foreign exchange management for businesses operating in key import and export markets.

 

MONEX upgrades trade finance operations with Surecomp platform

Mexican financial institution MONEX has implemented Surecomp’s cloud-based trade finance platform, marking the end of its transition from a legacy back-office system. The rollout, which includes the DOKA-NG processing system and the allNETT customer portal, has been live for over 18 months.

The upgrade forms part of MONEX’s digital transformation strategy and supports its expansion into factoring and supply chain finance. The bank has been a Surecomp client for more than 15 years and chose to adopt the provider’s latest systems to adapt to changes in the trade finance landscape.

According to a recent report from the International Finance Corporation and World Trade Organization, improving access to trade finance in Mexico could help unlock export growth of more than 7% annually. With this in mind, MONEX is seeking to serve a broader segment of corporate clients, including SMEs, amid rising demand for digital financial services. The platform is intended to support more efficient processing, reduce manual intervention, and help the bank manage evolving regulatory requirements as its trade finance business develops.

 

Finastra upgrades KTP for front-to-back trade execution

Finastra has enhanced its KTP treasury management system, allowing corporate treasurers to complete front-to-back trades within a single platform. The move eliminates the need to toggle between multiple tools for execution, position keeping and confirmation, reducing operational complexity and the potential for manual errors.

The update integrates the platform with 360T and Finastra’s CMS, enabling users to automate workflows from execution to settlement. For treasury teams, this could mean improved straight-through processing, fewer reconciliation issues and quicker trade cycles, especially valuable in volatile markets where timing is critical.

A new web-based dashboard offers real-time visibility over liquidity and financial positions. Designed with responsive layouts and business process logic, it supports multi-entity operations across geographies while easing the learning curve for users.

Finastra says the enhanced platform helps reduce the risk of common mistakes, such as inverted trade directions or duplicate entries, which often arise when multiple systems are used in parallel. A built-in reporting engine allows users to customise dashboards for internal decision-making and compliance needs, including tools to verify best execution.

 

DP World and J.P. Morgan expand trade finance in emerging markets

DP World Trade Finance and J.P. Morgan have launched a collaboration aimed at improving access to working capital in emerging markets. The initiative seeks to address the estimated US$2.5 trillion global trade finance gap, which continues to limit growth opportunities for businesses lacking access to affordable credit.

By combining DP World’s logistics infrastructure with J.P. Morgan’s trade finance capabilities, the partnership will support risk-sharing on transactions in regions underserved by traditional banking systems. Many small and medium-sized enterprises in emerging economies struggle to secure credit due to limited financial data, raising barriers to international trade.

The first deal under the new framework supported a global food company’s cocoa procurement in Ivory Coast. According to DP World, the transaction unlocked over US$70m in annual sourcing opportunities in the region, demonstrating how joint financial and logistical support can boost access to critical raw materials while bringing value into agri-exporting economies.

The collaboration is expected to scale further into markets such as Central Asia and Sub-Saharan Africa. Both firms see the partnership as a model for extending structured trade finance to more businesses, using risk-mitigation tools to strengthen liquidity in supply chains across developing regions.

 

GACT updates key treasury guidance

The German Association of Corporate Treasurers (GACT) has released the fourth edition of The Guiding Principles of Corporate Treasury, offering an updated framework to help companies build or refine modern treasury functions. The guide outlines practical recommendations for managing treasury processes securely, compliantly and efficiently. Its goal is to help companies avoid liquidity shortfalls and financial risk management gaps, while positioning treasury as a key part of corporate governance. Although not legally binding, the principles are prioritised and presented as best practice.

GACT emphasises that every treasury function should be tailored to a company’s specific business model, risk profile and complexity. The updated edition is shorter than previous versions, and designed to be used alongside other GACT publications, including the Paper Definition of Treasury and further function-specific best practice guidance.

Compiled by experts from across GACT’s committees, the publication is intended to be a practical reference for treasurers adapting to changing business environments. To remain relevant, the working group recommends that the principles be reviewed and refreshed at least every three years. The English-language release expands the publication’s reach, supporting international treasury teams seeking to align with recognised standards from Germany’s treasury community.

 

Mastercard expands cloud payment infrastructure in APAC

Mastercard has launched Cloud Edge in Asia Pacific, enabling banks and fintechs in the region to connect to its network more quickly and roll out payment services with reduced reliance on physical infrastructure. The cloud-based solution, developed in partnership with providers such as Amazon Web Services, allows financial institutions to onboard up to four times faster than through traditional methods.

Cloud Edge is designed to offer customers flexibility in how they access Mastercard’s global network, while also supporting local regulatory requirements on data storage and processing. It allows for private connectivity to Mastercard’s systems, helping firms meet compliance needs across Asia Pacific markets including India, Australia, Singapore and Hong Kong SAR.

As demand for scalable digital infrastructure grows, particularly during peak periods such as holidays or major sales events, cloud solutions like Cloud Edge offer a way for fintechs and financial institutions to manage spikes in activity without major investments in data centres. The platform also enables direct access to ISO 20022-compliant APIs to support the development of modern payment tools. Companies including Episode Six are already using the service to support digital payment launches across the region. Mastercard says the solution is now available in select markets worldwide.