US pushes G20 to cut trade imbalances, focus on China
The US presses G20 countries to confront trade gaps with China, but divisions over subsidies, rare earth curbs and Russia cloud a joint communique.
US officials are urging G20 countries to address trade imbalances with China, but differences over subsidies and Russia hinder a unified statement. President Trump's administration is calling for protection of domestic industries and job markets from Chinese imports, claiming these distortions are draining growth from the global economy.
The finance chiefs meeting, held amid a bond market sell-off, saw the US and Europe at odds over curbing Chinese imports and AI regulation. While China's massive export push has pressured global economies, especially since US tariffs, Beijing remains resistant to reforms. European countries, including Poland and Germany, acknowledge China's role in imbalances but also note the US's own contribution to uncertainty.
China's dominance in critical minerals and rare earth exports, along with its undervalued currency, are seen as further obstacles to global economic stability.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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