China dissented from G20 statement opposing 'cheap exports' flooding market, Bessent says

Treasury Secretary Scott Bessent speaks after the 2026 G20 Financial meetings on Sept. 1, 2026 in Asheville, North Carolina.CNBCChina was the only Group of 20 member to dissent from a joint statement that "non-market based economies pushing out a never-ending stream of cheap exports is not sustainable," Treasury Secretary Scott Bessent said Tuesday.The countries will take action in the coming "days, weeks or months" to "reach a resolution on this unsustainable equilibrium," Bessent said at a press conference following days of meetings with finance ministers and central bankers in Asheville, North Carolina.Bessent confirmed that China, "the country with the world's largest and unsustainable current account surplus," was the sole dissenter from his chairman's statement."I'd hoped to be able to announce a unanimous joint communiqué today," he said, while stressing that the agreement from the 19 other members "shows the sheer the enormity of the problem."The Treasury Department did not immediately provide a copy of the joint statement. China's U.S. embassy did not immediately respond to CNBC's request for comment on Bessent's remarks.The presser came as Bessent spearheads the Trump adm...