US urges G20 to cut trade imbalances, focus on China
ASHEVILLE, North Carolina — The Trump administration urged other G20 countries on Tuesday to do more to protect their domestic industries and job markets from Chinese imports, arguing such distortions were "sucking" much-needed growth out of the global economy. The two-day meeting of finance chiefs — which saw differences in tone between the U.S. hosts and some of the European participants — came…
The Trump administration urged G20 nations on Tuesday to address trade imbalances and protect domestic industries from Chinese imports, arguing that these distortions drain growth from the global economy. The two-day meeting of finance chiefs showcased differing perspectives between the U.S. hosts and some European participants. The gathering occurred amid a global bond market selloff, driven by concerns over rising debt and inflation.
U.S. Treasury Secretary Scott Bessent emphasized that he had warned trading partners the previous year that increased U.S. tariffs would result in an influx of Chinese goods into their markets. Bessent stated that the situation had materialized, and it was now imperative for the rest of the world to examine how they can safeguard their citizens' jobs.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- US urges G20 to cut trade imbalances, focus on China dailymaverick.co.za
- US urges G20 to cut trade imbalances, focus on China sabcnews.com
- US urges G20 to cut trade imbalances, focus on China koreatimes.co.kr
- US urges G20 to cut trade imbalances, focus on China aljazeera.com
