G20 countries should consider more trade barriers on China to cut imbalances, Bessent says

ASHEVILLE, North Carolina, Aug 30 – U.S. Treasury Secretary Scott Bessent said on Sunday he will encourage G20 members to re-examine terms of trade with China to shrink global imbalances and press Beijing to rebalance its economy away from exports and toward domestic consumption. Bessent said in an interview ahead of a G20 finance leaders meeting that the current flood of exports from China was unsustainable, even though the U.S. direct trade position with China was “rapidly improving.” “The world cannot have a China with a $1.2 trillion trade surplus,” Bessent said. “In China, the economy is quite weak, and…