US Treasury Secretary Scott Bessent announced on Tuesday that 19 G20 members reached an agreement to combat cheap export flows that cause imbalances in the world economy. Bessent made this statement during a G20 meeting, a bloc that brings together the world's largest economies.
China was the only country to oppose this position among G20 members. The Asian country, known for being a large exporter of goods at competitive prices, did not agree with the assessment that cheap exports represent an unsustainable problem for the global economy.
The issue of cheap exports and trade imbalances has been a recurring concern in international economic discussions, with several countries expressing interest in creating mechanisms to balance global trade and protect their domestic industries.
