US urges G20 to cut trade imbalances, focus on China

US Treasury Secretary Scott Bessent urged G20 counterparts to adopt measures similar to the Trump administration's approach to address trade imbalances, particularly concerning Chinese imports. During a meeting in Asheville, North Carolina, he highlighted that non-market economies create imbalances that harm global growth. China's significant export push saw its exports rise by 23.9% in July, prompting calls in Europe for tougher restrictions on its imports.