Treasury Secretary Scott Bessent said Tuesday that 19 of the members of the G20 had agreed to address streams of “cheap exports” that cause global economic imbalances, but said China had dissented.
“We believe that non-market-based economies pushing out a never-ending stream of cheap exports is not sustainable,” Bessent told reporters, describing the sentiment that all but one G20 member had agreed to. “It is clear that the country with the world’s largest and unsustainable current account surplus, the People’s Republic of China, was the dissenter,” Bessent said.
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