Bessent Says G20 Countries Should Also Use Tariffs to Protect Their Industries From Cheap Imports
Bessent said the summit will press countries to address trade imbalances and, for the first time, hear from business executives on investment barriers.
- On Monday, Treasury Secretary Scott Bessent opened the G20 finance summit in Asheville, North Carolina, praising the region as "the comeback city" following its recovery from Hurricane Helene.
- The Trump Administration reoriented this year's agenda toward deregulation and reciprocal tariffs, replacing previous priorities like climate change and DEI initiatives to focus on promoting stronger national economic growth.
- In a departure from traditional formats, the U.S. presidency introduced direct dialogues between C-suite executives and policy leaders; Bessent urged members to reexamine trade relations with China, citing its unsustainable $1.2 trillion trade surplus.
- European officials, including Germany's finance minister, opposed Washington's decision to invite Russian Finance Minister Anton Siluanov, with the German official stating the move "sends a signal I find troubling."
- Amid global anxieties over U.S. debt and the war with Iran's economic fallout, the group plans a dedicated discussion tomorrow on global imbalances and unfair trading practices.
51 Articles
51 Articles
Associated Press News
Bessent says 19 finance ministers agreed 'cheap exports' are unsustainable, but China dissented
Treasury Secretary Scott Bessent says 19 of the members of the G20 agreed to address streams of “cheap exports” that cause global economic imbalances, but China dissented.
Al-Jadaan heads Saudi delegation attending G20 finance leaders meeting in US
Minister of Finance Mohammed Al-Jadaan headed Saudi Arabia's delegation attending the second Finance Ministers and Central Bank Governors Meeting under the US G20 Presidency that began in Asheville, North Carolina, United States, on Monday.
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Addressing the G20 Finance Ministers and Central Bank Governors meeting in a city rebuilt from disaster, the Trump Administration delivered a firm message to the global economic community -- deregulation, strong national growth and fair trade are the surest paths to lasting global prosperity.
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Latestly'America first, growth first': Trump Administration unveils pro-market agenda at G20 Summit in Asheville
Addressing the G20 Finance Ministers and Central Bank Governors meeting in a city rebuilt from disaster, the Trump Administration delivered a firm message to the global economic community -- deregulation, strong national growth and fair trade are the surest paths to lasting global prosperity.
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