Treasury secretary says 19 G20 members agree China's cheap exports unsustainable

U.S. Treasury Secretary Scott Bessent spoke at a G20 meeting on September 1, 2026, in Asheville, North Carolina. He said 19 of the 20 member countries agreed that cheap exports from non-market economies are a problem. China was the only country that disagreed.

Bessent said China has the world's largest trade surplus, worth around $1.2 trillion, and that this cannot continue. He argued that China's economy is weak, so the country is trying to sell its way out of trouble. The U.S. has placed high tariffs on many Chinese goods, and China has moved those exports to Europe and Latin America. Bessent called on G20 members to look again at their trade agreements with China.