Beijing pushes back on Washington’s attempt to rally G20 over trade imbalance
After US Treasury Secretary Bessent called for coordinated response from G20 towards China, Beijing urged consultation instead
China pushed back on Monday against Washington’s attempt to rally other Group of 20 members to pressure Beijing over its US$1.2 trillion trade surplus.
“China never deliberately pursues a trade surplus and opposes unilateral tariff measures in all forms,” foreign ministry spokesman Guo Jiakun said at a press briefing in Beijing.
Guo said China remained committed to “high-standard opening up” and would use its vast market to offer “new opportunities to all, including the United States”.
His comment was a response to US Treasury Secretary Scott Bessent’s remarks that “the world cannot have a China with a US$1.2 trillion trade surplus” and that G20 members should reassess their trade terms with Beijing.
“Both sides need to act on the important common understandings reached between the two presidents, resolve outstanding issues through consultation on the basis of equality, mutual respect and mutual benefit, and strive to maintain the hard-won positive momentum in bilateral trade,” Guo said.
Bessent made the remarks to Reuters on Sunday ahead of a meeting of G20 finance ministers and central bank governors, and called for a coordinated response on trade with China. The comments came as Beijing and Washington are preparing for Chinese President Xi Jinping’s planned visit to the US on September 24.