The chart of the week examines tariffs between the United States and China throughout 2025. Recent news of negotiations and a reduction in tariffs has been welcomed by the market. Although tariffs have significantly decreased from their peak in 2025, both the U.S. and China still face tariff rates that are higher than those at the beginning of this year. The final agreed-upon rates will play a crucial role in determining the impact of these tariffs on each economy and, ultimately, on future market returns.