# US Treasury economic and trade policy shifts > Live situation record from CLSTR: https://clstr.news/situations/us-treasury-economic-and-trade-policy-shifts > Updated: 2026-09-02T04:30:00.000Z. Sources: 155. Developments: 3. US Treasury Secretary Scott Bessent has initiated several economic and geopolitical maneuvers aimed at addressing debt and trade imbalances. Initially, the Treasury announced plans to double its maximum volume for Treasury bond buybacks from $2 billion to at least $4 billion. This move, occurring as US federal debt exceeds $40 trillion, has coincided with rising gold and Bitcoin prices and a declining US dollar index. Speaking at the G20 finance ministers meeting in Asheville, North Carolina, Bessent urged G20 members to re-examine their trade terms with China to address its $1.2 trillion trade surplus. He argued that China’s economic model relies too heavily on exports due to weak domestic demand, making the surplus unsustainable, and called for a shift toward domestic consumption. While the US direct trade deficit with China improved to $73.9 billion in the first half of 2026, the administration is considering an additional 7.5% tariff on Chinese goods due to manufacturing overcapacity, which could bring total tariffs to approximately 20%. Following the G20 summit, Bessent noted that 19 G20 members agreed that the continuous flow of cheap exports from non-market economies is unsustainable, while identifying China as the sole dissenting voice. Addressing the global debt crisis, Bessent stated that ‘the world is flooded with debt, and the only way out of this situation is through growth.’ Expanding his geopolitical strategy, Bessent signaled an escalation of economic pressure on Iran through ‘Operation Economic Outcast,’ announcing plans to expand sanctions to target the aviation, maritime shipping, and digital asset sectors. He further warned businesses to avoid commercial ties with Iran and Russia to prevent US enforcement action. In a separate market maneuver, Bessent issued a warning to currency speculators regarding the Japanese yen. ## Claims - Bessent will encourage G20 members to re-examine their terms of trade with China to reduce global imbalances. (corroborated by 22 sources) - US Treasury Secretary Scott Bessent stated that the world cannot sustain a China with a $1.2 trillion trade surplus. (corroborated by 17 sources) - Bessent argues China needs to shift its economic focus from exports toward domestic consumption. (corroborated by 17 sources) - The yen fell below the 160-per-dollar level on Friday, August 28. (corroborated by 13 sources) - Recent Japanese yen fluctuations are pretty well contained and not disorderly. (corroborated by 10 sources) - Bessent plans to meet Bank of Japan Governor Kazuo Ueda at the G20 finance leaders' gathering in Asheville, North Carolina. (corroborated by 10 sources) - The US has implemented high tariffs and bans on certain Chinese products, including automobiles. (corroborated by 8 sources) - The era of Abenomics, a reflationary economic program, has likely reached its end. (corroborated by 8 sources) - The United States and Japan conducted a joint yen-buying intervention on July 31. (corroborated by 8 sources) - The US trade deficit with China fell by one-third in the first six months of 2026 compared to the same period in 2025, reaching $73.9 billion. (corroborated by 8 sources) ## Timeline ### 2026-09-02: US plans to expand Iran sanctions and address China trade at G20 US Treasury Secretary Scott Bessent announced plans to expand sanctions on Iran's aviation, shipping, and digital asset sectors while criticizing China's export-driven economic policies at the G20 meeting. 6 sources. https://clstr.news/cluster/us-plans-to-expand-iran-sanctions-and-address-china-trade-at-g20 ### 2026-08-30: US Treasury Secretary Bessent addresses G20 trade and sanctions At the G20 meeting, US Treasury Secretary Scott Bessent urged trade reviews with China, warned of global debt, and signaled new weekly sanctions against Iran to curb its economic influence. 148 sources. https://clstr.news/cluster/us-treasury-secretary-urges-g20-to-implement-trade-barriers-against-china ### 2026-08-25: US Treasury Secretary Scott Bessent drives shift toward gold and Bitcoin US Treasury Secretary Scott Bessent's policies are driving investors toward gold and Bitcoin as US debt exceeds $40 trillion and geopolitical tensions with China and Iran rise. 2 sources. https://clstr.news/cluster/us-treasury-secretary-scott-bessent-drives-shift-toward-gold-and-bitcoin --- Cite as: US Treasury economic and trade policy shifts. CLSTR, https://clstr.news/situations/us-treasury-economic-and-trade-policy-shifts