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[INTERNATIONAL] · United States, China, Argentina · 73 sources

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G20 finance ministers fail to reach consensus as China dissents on trade

The G20 finance ministers' meeting in Asheville, North Carolina, concluded without a joint communiqué after China dissented from key sections of the proposed statement. U.S. Treasury Secretary Scott Bessent reported that 19 of the 20 G20 members agreed on the need to address global economic imbalances caused by non-market practices and an influx of cheap exports. China specifically opposed language regarding trade imbalances, non-market economic policies, and shipping constraints in the Strait of Hormuz.

Bessent highlighted China’s record $1.2 trillion trade surplus in 2025 as a primary driver of these imbalances. He also noted that President Trump and President Xi Jinping are expected to discuss artificial intelligence policy during their upcoming meeting.

In a separate development, Argentine Economy Minister Luis Caputo described Argentina as a ‘leading case’ for countries managing fiscal imbalances. Caputo noted that his administration’s reforms have received support from international figures, including officials from the U.S. Treasury and the IMF, and emphasized that the country is on track to meet its IMF targets.

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Anton Siluanov · Argentina · China · Donald Trump · G20 · Kazuo Ueda · Luis Caputo · Scott Bessent · Tax Foundation · Trump administration · U.S. Department of the Treasury · Xi Jinping

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