Bessent urges G20 to address China trade surplus

U.S. Treasury Secretary Scott Bessent is urging G20 finance ministers to collectively address China's massive trade surplus, arguing that coordinated action among major economies is necessary to correct global imbalances. Speaking ahead of the G20 finance leaders' meeting in Asheville, North Carolina, Bessent said the world cannot sustain a China with a $1.2 trillion trade surplus and called on member nations to reexamine their terms of trade with Beijing. The meetings, scheduled for August 31 and September 1, 2026, provide the backdrop for Bessent's push for multilateral coordination. He contends that unilateral U.S.