What did Scott Bessent say G20 countries should do about trade with China?

Bessent said G20 members should re-examine their terms of trade with China and consider more barriers to help cut global imbalances. He argued that other countries need to give China an incentive to move away from exports and toward domestic consumption.

Why did Scott Bessent say China needs to rebalance its economy?

He said China’s economy is quite weak and that Beijing is trying to export its way out of that कमजोरी. He warned that the current flood of exports is unsustainable and said China needs stronger domestic demand.

How has the United States already responded to Chinese exports, according to Scott Bessent?

Bessent said the U.S. has walled off its economy from many Chinese exports through high tariffs and outright bans on some products, including autos. He said this has pushed China to divert exports elsewhere, especially to Europe and Latin America.

G20 countries should consider more trade barriers with China to cut imbalances, Bessent says

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Summary

U.S. Treasury Secretary Scott Bessent said in Asheville, North Carolina, on Sunday that G20 members should re-examine trade with China to reduce global imbalances. He said China’s export flood is unsustainable and that Beijing needs to shift from exports toward domestic consumption. Bessent said the world cannot have a China with a $1.2 trillion trade surplus. He also said the United States has already walled off many Chinese exports with tariffs and bans.

Key Facts

Bessent made the remarks ahead of a G20 finance leaders meeting.
He said the U.S. direct trade position with China is rapidly improving.
The United States has imposed high tariffs and outright bans on some Chinese products, including autos.
Bessent said China has diverted exports to Europe and Latin America.
He said China needs to strengthen its chronically weak domestic demand.

By Reuters

Published Aug 31, 2026 8:10 am KST

U.S. Treasury Secretary Scott Bessent speaks during an interview with The Associated Press in Asheville, N.C., Aug. 30. AP-Yonhap

ASHEVILLE, North Carolina — U.S. 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 towards 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 U.S. 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."

The U.S. has walled off its economy from many Chinese exports with high tariffs and outright bans on some Chinese products including autos, leading China to divert exports elsewhere, especially to Europe and Latin America, Bessent said.

He said it will be up to other countries to give China an incentive to shift away from exports and strengthen its chronically weak domestic demand.

"The rest of the world is going to have to examine their terms of trade with China," Bessent said.

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