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.<br />For more, we have our Kim Ji-yeon with us in the studio.<br />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?<br /><br />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.<br />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.<br />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. <br />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.<br />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. <br />
