Insights

Weekly Market Commentary – 16th May

19 May 2025

This week brought further twists and turns from US trade policy as the US and China agreed to step back from the most extreme tariffs. This was welcomed by equity markets as the S&P 500 index turned positive for the year to date. This is despite tariffs of 30% remaining on Chinese goods entering the US and tariffs of 10% on trade going the other way. Slowing US inflation and an uptick in UK growth added to the positive mood.