China dissented from G20 statement opposing 'cheap exports' flooding market, Bessent says
Bessent is leading the Trump administration's plan to choke off Iran's economy by threatening its business partners with secondary sanctions.
The US Treasury Secretary, Scott Bessent, has stated that he warned other G20 nations at the start of President Donald Trump's second term that Chinese goods would flood their markets due to the new US "tariff wall". Bessent said that his warning proved correct and urged other countries to take measures to protect their jobs and manufacturing base.
Bessent's comments were made on the sidelines of the G20 finance minister meetings. According to the Associated Press, he suggested that other nations should consider using tariffs and other measures to address trade imbalances.
China dissented from a G20 statement opposing cheap exports flooding the market. The details of the statement and China's dissent are not specified. Bessent has also been involved in leading the Trump administration's plan to impose secondary sanctions on Iran's business partners.
Brief written by urgent.news from CNBC World, Associated Press — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Bessent says G20 countries should also use tariffs to protect their industries from cheap imports apnews.com
- Bessent says G20 countries should also use tariffs to protect their industries from cheap imports toronto.citynews.ca
- China dissents as Bessent says 19 finance ministers agree to address 'cheap exports' pbs.org
- China dissented from G20 statement opposing 'cheap exports' flooding market, Bessent says cnbc.com
- Bessent says G20 countries should also use tariffs to protect their industries from cheap imports winnipegfreepress.com
- Bessent says G20 countries should also use tariffs to protect their industries from cheap imports hindustantimes.com
