US urges G20 countries to hit China with trade barriers

US Treasury Secretary Scott Bessent will encourage G20 members to re-examine their terms of trade with China to shrink global imbalances and press Beijing to rebalance its economy away from exports and toward domestic consumption. The flood of exports from China was unsustainable, even though the US direct trade position with China was “rapidly improving”, Bessent said in an interview on Sunday ahead of a G20 finance leaders meeting. “The world cannot have a China with a $US1.2 ($A1.7) trillion trade surplus,” Bessent said. “In China, the economy is quite weak, and they are trying to export their way out…