G-20 countries should consider more trade barriers with China to cut imbalances, Bessent says
US Treasury Secretary Scott Bessent said he will encourage G-20 members to re-examine their terms of trade with China to reduce global imbalances and push Beijing to shift from exports to domestic consumption. He described China's export surge as unsustainable and noted that US tariffs have diverted Chinese exports to Europe and Latin America. Bessent said other countries must provide China an incentive to strengthen its domestic demand.
Why it matters: This relates to the theme of global trade imbalances and the rebalancing of major economies.