US Calls for G20 Trade Balance Reduction

The Trump administration urged G20 countries to strengthen their efforts to protect their domestic industries and labor markets from Chinese imports, believing that trade imbalances resulting from China's support for its exports are draining global economic growth. The U.S. Treasury Secretary pointed out that imposing stricter tariffs has led to cheaper Chinese goods being exported to other countries, hindering their economies—especially amid declining domestic demand. He explained that China actively supports its exports through financial subsidies, which poses a significant problem for Europe and other nations, especially as Chinese exports increased by 23.9% in July, with calls for more restrictions on Chinese imports.

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