Treasury Secretary Scott Bessent says he’s urging his G20 counterparts to take a page from the Trump administration’s playbook of using tariffs to crack down on trade imbalances. Speaking at the G20 finance minister meetings, Bessent highlighted China's record-high trade surplus and excessive regulation as barriers to global growth. He emphasized the need for countries to protect their manufacturing industries. Despite concerns about U.S. debt reaching $40 trillion, Bessent downplayed fears about bond markets. During discussions, he noted areas of agreement with China, particularly on issues like Iran.
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Treasury Secretary Scott Bessent speaks to reporters at the G20 Finance Ministerial in Asheville, N.C., Tuesday, Sept. 1, 2026. (AP Photo/Gerald Herbert)
Treasury Secretary Scott Bessent speaks to reporters at the G20 Finance Ministerial in Asheville, N.C., Tuesday, Sept. 1, 2026.(AP Photo/Gerald Herbert)