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Bessent urges G20 to curb China's trillion-dollar surplus — Aug 30, 2026U.S. Treasury Secretary Scott Bessent urged the G20 to reevaluate trade terms with China to curb its $1.2 trillion export surplus and push Beijing toward domestic consumption, arguing that current export-driven growth strains the global economy. He advocates multilateral policy tools—such as adjusting import duties, export credits, and investment screening—to coordinate a shift away from China’s export-led model, noting how Europe and Latin America have already absorbed redirected shipments as a result of U.S. tariffs and bans.

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