US Treasury Secretary urges G20 to address trade imbalances with China

U.S. Treasury Secretary Janet Bessent called on the other members of the Group of Twenty to intensify safeguards against a surge of Chinese imports that she said threatens the competitiveness of their domestic industries. Speaking at a G20 finance ministers’ gathering in New York, Bessent warned that the current pace of Chinese export growth, bolstered by state subsidies and alleged dumping practices, is creating trade distortions that could undermine the economic stability of participating economies.

Bessent urged the G20 to adopt coordinated policy tools, including tighter anti‑dumping investigations, enhanced customs enforcement and, where appropriate, targeted tariff measures. She highlighted recent data showing a sharp rise in Chinese shipments of steel, electronics and apparel to the United States and other major markets, which has contributed to a widening trade deficit and heightened pressure on local manufacturers. The Treasury Secretary also stressed the need for transparent dialogue with Beijing to address unfair trade practices while preserving the broader framework of global commerce.

The Treasury Department will work with its G20 counterparts to develop a shared strategy that balances open markets with protective measures, aiming to mitigate the impact of subsidized Chinese goods while avoiding broader escalation of trade tensions. The outcome of these discussions is expected to shape forthcoming policy proposals in the participating countries’ legislative bodies.