U.S. President Donald Trump and Chinese leader Xi Jinping are expected to discuss trade at the G-20 summit in Argentina this week — a meeting that's watched globally for clues on where tensions between the U.S. and China are going.
The meeting comes after tit-for-tat tariffs between the two countries dominated headlines this year: The U.S. levied additional duties on $250 billion worth of Chinese goods, and China responded with retaliatory tariffs on $110 billion of American imports.
And there could be more in the works. Trump has threatened to increase those additional duties imposed on Chinese goods this year from 10 percent to 25 percent next January. The U.S. president also said he's considering levying extra tariffs on another $267 billion worth of Chinese imports should Beijing retaliate.
The escalation in tensions between the world's two largest economies is a threat to the global economy. And the upcoming meeting between Trump and Xi could either calm nerves or continue to keep the world on edge.