U.S. President Donald Trump will meet Japanese Prime Minister Shigeru Ishiba for the first time on Friday as two allies wary of China's rise work to boost business and security ties while an escalating trade war threatens to rupture the global economy.

The world's two biggest economies are on the brink of an economically destructive trade war. Here's what experts think could happen next.

After many months of threats, the US has imposed 10% tariffs on all Chinese goods coming into the country. Helen Qiao, chief economist for Greater China at Bank of America, joins John Lee and Katia Dmitrieva to gauge the impact in the world's second largest economy and what could lay ahead.

Beijing has made its decision. After days of warning of counter measures and urging Washington to enter negotiations and "meet China halfway", it has decided to hit back – or at least threaten to retaliate with its own tariffs.

U.S. President Donald Trump meets Japanese Prime Minister Shigeru Ishiba for the first time on Friday as two allies wary of China's rise work to boost business and security ties while an escalating trade war threatens to rupture the global economy.

A Latin term that’s been little-known outside the world of customs brokers has suddenly become the stuff of headlines. Along with imposing new 10% tariffs on all Chinese imports as of Feb. 4, US President Donald Trump suspended his country’s special rules for “de minimis” merchandise from China and Hong Kong.

U.S. President Donald Trump this week shut a trade loophole that has been used to ship low-value packages duty-free from China, the "de minimis" exemption on import tariffs. Trump's halt to Section 321 de minimis is part of his implementation of an additional 10% tariff on China and 25% tariffs on Canada and Mexico,