US urges G20 to cut trade imbalances, focus on China

What the report says

US Treasury Secretary Scott Bessent used a G20 finance chiefs meeting in Asheville, North Carolina, to press other major economies to take tougher steps against trade imbalances, with particular attention on China. According to Al Jazeera’s report, the Trump administration argued that countries should better shield domestic industries and jobs from Chinese imports, saying uneven trade flows are weakening global growth.

Bessent said he had warned trading partners last year that higher US tariffs could redirect Chinese goods into their markets. He also told reporters that “non-market economies” with large surpluses were draining growth from the rest of the world. The meeting took place over two days as officials also dealt with market turbulence tied to debt concerns and inflation pressures.

The article says China’s export growth has added pressure on economies worldwide, especially as the US has raised tariffs and restricted some Chinese products. It also notes that Beijing has relied more heavily on exports amid weak domestic demand, while some European officials have called for tighter limits on Chinese imports. At the same time, critics of the US tariff approach argue it raises costs for consumers and strains alliances.

The report says it is still unclear whether G20 members can agree on a joint statement. More broadly, the discussion highlights how trade policy, industrial subsidies and currency concerns continue to shape tensions between the US, China and other major economies.