North Carolina: U.S. Treasury Secretary Scott Bessent has called on G20 countries to review their trade policies toward China.
Bessent said countries may need stronger trade measures to reduce global trade imbalances. He also urged China to rely less on exports and boost domestic spending.
Speaking ahead of a G20 finance meeting, Bessent said China’s large trade surplus was not sustainable.
“The world cannot have a China with a $1.2 trillion trade surplus,” Bessent said.
He said China’s domestic economy remains weak. Beijing, he argued, is trying to support growth through exports.
“China is trying to export its way out of it,” Bessent said. “They need to rebalance their economy.”
Bessent wants G20 members to take a closer look at their trade ties with China.
He said other major economies now face growing pressure from Chinese exports.
The United States has already imposed high tariffs on many Chinese goods. It has also restricted some Chinese products, including vehicles.
Bessent said he warned other industrial economies about the rising flow of Chinese goods last year.
“Now they are confronted with some very stark choices,” he said.
He said other countries should consider steps that could encourage China to strengthen its domestic market.
“The rest of the world is going to have to examine their terms of trade with China,” Bessent said.
The Trump administration has imposed several tariffs on Chinese goods since President Donald Trump returned to office in 2025.
The measures have helped reduce the U.S. trade deficit with China.
U.S. Census Bureau data show that the deficit fell by about one-third in the first six months of 2026.
The deficit stood at $73.9 billion, compared with the same period in 2025.
However, some importers brought Chinese goods into the United States earlier in 2025. They wanted to avoid expected tariff increases.
The United States is also seeking a joint G20 statement on global trade imbalances.
The proposed statement would focus on trade and current-account imbalances.
Bessent said the goal is to encourage China to reduce its dependence on exports. He also wants Beijing to increase domestic consumption.
China’s embassy in Washington did not immediately comment on the U.S. proposal.
The issue is expected to remain a key topic at the G20 meeting in Asheville.
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