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Story summary
- Treasury Secretary Scott Bessent warned the United States may impose a 7.5% tariff on Chinese imports.
- China opposed the G20 cheap-export statement and rejected paragraphs on external surpluses, Hormuz shipping risks, and IMF surveillance.
- The other 19 G20 members agreed to address non-market export imbalances soon.
- Bessent cited China’s projected 2025 trade surplus of $1.2 trillion as a growth barrier.
