Trump, Xi to hold high-stake talks on trade on sidelines of G20 summit
- 5 years ago
The eyes of the global business world are on this weekend's G20 summit in Argentina,... and especially the bilateral meeting between the leaders of the United States and China.
For more, we have our Kim Ji-yeon with us in the studio.
Ji-yeon, Washington and Beijing have been locked in a tit-for-tat trade war for months now,... is there much optimism this meeting could provide a welcome breakthrough?
It's a coin toss at this point, but it's almost certain if the talks don't go well, the trade battle will escalate.
The U.S. has imposed 10-percent tariffs on more than 250-billion U.S. dollars of Chinese imports... and China retaliated with tariffs on 110-billion dollars of U.S. goods.
The Trump administration again threatened to put duties on an additional 267-billion dollars of Chinese goods... and hike the tariffs to 25-percent at the beginning of 2019... if China doesn't agree to a deal that'll reduce the 375-billion dollar deficit recorded by the U.S. on its trade with China last year.
If the trade dispute drags on, it's certainly going to impact export-driven countries like South Korea when importing raw materials or components from China to be shipped to the U.S.
Earlier this month, the OECD warned global GDP could contract by eight tenths of a percent by 2021... if the U.S. goes ahead with its tariff plans.
For more, we have our Kim Ji-yeon with us in the studio.
Ji-yeon, Washington and Beijing have been locked in a tit-for-tat trade war for months now,... is there much optimism this meeting could provide a welcome breakthrough?
It's a coin toss at this point, but it's almost certain if the talks don't go well, the trade battle will escalate.
The U.S. has imposed 10-percent tariffs on more than 250-billion U.S. dollars of Chinese imports... and China retaliated with tariffs on 110-billion dollars of U.S. goods.
The Trump administration again threatened to put duties on an additional 267-billion dollars of Chinese goods... and hike the tariffs to 25-percent at the beginning of 2019... if China doesn't agree to a deal that'll reduce the 375-billion dollar deficit recorded by the U.S. on its trade with China last year.
If the trade dispute drags on, it's certainly going to impact export-driven countries like South Korea when importing raw materials or components from China to be shipped to the U.S.
Earlier this month, the OECD warned global GDP could contract by eight tenths of a percent by 2021... if the U.S. goes ahead with its tariff plans.