The US Treasury Secretary, Scott Bessent, announced on Tuesday that 19 G20 members agreed to combat the flows of cheap exports that cause imbalances in the world economy. The position was expressed during a meeting of the group.
Bessent made the statement at a press conference following the G20 finance ministers' meeting. The central theme of the discussions was the trade practices that participating countries consider harmful to global economic balance.
China was the only country to oppose this position of the 19 G20 members. The country did not agree with the characterization of its exports as cheap or unsustainable for the world economy.
The G20 is made up of the world's largest economies and brings together representatives from various countries who frequently discuss issues related to international trade and global economic stability.
