Bessent says G20 countries should also use tariffs to protect their industries from cheap imports

Treasury Secretary Scott Bessent stated on Tuesday that 19 of the G20 countries had agreed to tackle the issue of "cheap exports" causing economic imbalances, but China opposed the move. At the end of a two-day meeting, Bessent urged some G20 members to follow the Trump administration's strategy of using tariffs and other measures to tackle trade imbalances.

He emphasized that China, with the world's largest current account surplus, was the only G20 member who dissented. Bessent warned that the world needed to consider measures to protect jobs and manufacturing industries to prevent offshoring. He also mentioned that AI companies should provide better explanations to the American public regarding their technologies.

After the press conference, President Trump claimed that productive and positive conversations took place during the G20 meetings, and other countries should follow the U.S. lead.