G20 countries should consider more trade barriers with China to cut imbalances, US treasury chief says
August 30, 2026 23:05
ASHEVILLE, North Carolina: US Treasury Secretary Scott Bessent told Reuters on Sunday that he will encourage G20 member countries to re-examine their terms of trade with China as part of efforts to shrink global imbalances and press Beijing to rebalance its economy away from exports toward more domestic consumption.
Bessent said in an interview ahead of a G20 finance leaders meeting that the current flood of exports from China was unsustainable, even though the US direct trade position with China was “rapidly improving.”
“The world cannot have a China with a $1.2 trillion trade surplus,” Bessent said. “In China, the economy is quite weak, and they are trying to export their way out of it, and they need to rebalance their economy.”
