China frustrates consensus at the G20 summit hosted by the United States
Beijing opposes language calling for the elimination of non-market-oriented policies to curb trade imbalances.
China blocked a consensus at a G20 finance ministers' summit over language on eliminating non-market policies that contribute to global trade imbalances. The US and other countries had agreed on the language, but China objected to terms such as "non-market policies" and references to critical minerals. A US official stated that China's actions were "incredible" given that the country is a major offender in terms of trade distortions.
The G20, except for China, released a joint statement, with US Treasury Secretary Scott Bessent expressing disappointment that a unanimous agreement could not be reached.
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