China and U.S. clash at G20 over trade policy language

Disagreements between the United States and China prevented a joint communique from being issued during the G20 finance ministers and central bankers meeting in Asheville, North Carolina. The impasse centered on specific language regarding trade imbalances and economic practices.

U.S. Treasury Secretary Scott Bessent publicly accused Chinese representatives of obstructing the group's ability to reach a consensus. A primary point of contention was the inclusion of the term “non-market” in a sentence addressing trade imbalances. Chinese officials reportedly viewed this terminology as a direct attack on state-owned enterprises, which serve as a fundamental pillar of their economy.

The resulting statement from the U.S. presidency noted that nations must agree to “remove non-market policies and practices that deepen imbalances.” This friction highlights growing structural tensions between the world's two largest economies, occurring just weeks before a scheduled summit between Chinese leader Xi Jinping and U.S. President Donald Trump.