China rejects G20 text that warns of trade distortions

China was the only country to speak out against some articles of the declaration released at the end of the G20 finance ministers meeting, held from Monday (31.Aug.2026) to Tuesday (1st.September) in the United States. Of the 17 paragraphs of the text, the Chinese delegation registered objections to 4. Here is the full statement (PDF – 105 kB, in English).

Two of these paragraphs rejected by China explicitly speak of “correct distortions” e “reduce excessive dependence on exports”. These are criticisms that some countries, especially the USA, make towards Chinese economic policy. They argue that China purposely subsidizes the export of products to break the industry of other countries.

“Countries with excessive and persistent external surpluses must eliminate the distortions that restrict domestic consumption and that result in excessive dependence on exports for growth. These policies and practices generate harmful side effects in global, regional and domestic markets, in addition to increasing economic dependence”says one of the paragraphs rejected by China.

Speaking to journalists at the end of the meeting, US Treasury Secretary Scott Bessent – ​​the host of the meeting – stated that China was the only one against the provisions of the text and that the other countries agreed to discuss “cheap exports” and how to protect your savings.

Bessent also suggested that the countries that participated in the meeting follow the example of US President Donald Trump (Republican Party) and explore measures to correct trade imbalances, including the application of tariffs to countries with a very surplus trade balance – which is the case of China.

The meeting between G20 finance ministers was held 3 months before the G20 presidential summit, scheduled for December 14th and 15th in Miami.