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 United States has called on G20 nations to address trade imbalances, particularly those stemming from Chinese imports, in a bid to protect their domestic industries and job markets, according to a report from Asheville, North Carolina. The two-day finance chiefs meeting, attended by finance leaders from various countries, saw discordance in perspective between the U.S. organizers and certain European attendees. This meeting occurred amidst a global bond market downturn due to concerns over mounting debt and inflation.
Treasury Secretary Scott Bessent had previously warned other trading partners last year that increased U.S. tariffs would result in a surge of Chinese goods flooding their markets. The secretary reiterated this stance during the Ashville meeting, stating that the rest of the world needs to urgently consider measures to 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.
This story
This is one outlet's version. Read the fullest account.
- 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