G20 Finance Ministers

Treasury Secretary Scott Bessent speaks to reporters at the G20 Finance Ministerial in Asheville, N.C., Tuesday, Sept. 1, 2026.

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Bessent says G20 countries should also use tariffs to protect their industries from cheap imports

Bessent says G20 countries should also use tariffs to protect their industries from cheap imports

Treasury Secretary Scott Bessent says he’s urging his G20 counterparts to take a page from the Trump administration’s playbook of using tariffs to crack down on trade imbalances. Speaking at the G20 finance minister meetings, Bessent highlighted China's record-high trade surplus and excessive regulation as barriers to global growth. He emphasized the need for countries to protect their manufacturing industries. Despite concerns about U.S. debt reaching $40 trillion, Bessent downplayed fears about bond markets. During discussions, he noted areas of agreement with China, particularly on issues like Iran.