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

Treasury Secretary Scott Bessent is encouraging G20 countries to adopt tariff policies similar to those implemented by the Trump administration to address trade imbalances, according to reports. Bessent stated that he had warned nations at the beginning of President Donald Trump's second term that the U.S. "tariff wall" would result in Chinese goods flooding their markets.

Bessent expressed concern that the rest of the world should take measures to protect their citizens' jobs and manufacturing base from offshoring. The Trump administration's tariffs have faced criticism for raising consumer costs and punishing allies, with the Tax Foundation finding that the tariffs imposed in 2025 increased the retail price of imported consumer goods by around 7%.

The U.S. Supreme Court ruled the Trump administration's global tariffs unconstitutional in February. Bessent discussed the situation with China during the G20 finance minister meetings, but did not disclose the outcome of those talks.