threats withtrades hassan rouhani amid increasing tensions between the nations.ace, time to bring you a look at the headlines. i am joined by catherine bennett. the g20 summit was this weekend. what is the news? >> trade disputes were on the agenda and still are after donald trump said he would slap tariffs on $500 billion worth of chinese imports. financial officials gathered at the summit to steer globalal tre away from prototectionist popolicies. the imf has calculated $430 billion worth of mobile gdp could be wiped out by 202020 if these conflicts are not fixed. france and the u.s. did come to loggerheads. steven mnuchin refused to budge on trade with the e.u., demanding a free trade agreement with no subsidies. people are trying to make this about the united states and protectionism. that is not the case. this is about the united states wanting free and fair trade. >> new tariffs are not justified. they penalize industries, businesses, threaten our jobs, and we refused to negotiate. >> catherine, talk us through what the consequences could be if trump does g