Story perspectives

U.S. Says China Blocked G20 Trade Communiqué Wording

9/4/2026

Summary

Story summary

U.S. Treasury Secretary Scott Bessent said Chinese officials blocked a G20 joint communique.
The dispute centered on the phrase “non-market” used to describe trade imbalances.
China’s delegation, led by PBOC governor Pan Gongsheng and Vice Finance Minister Liao Min, proposed alternative wording.
The U.S. chair statement retained a line urging elimination of “non-market” policies and practices.
China recorded a $1.2 trillion trade surplus in 2025, a 20% increase from 2024.

History

Historical Context

Since the Strategic Economic Dialogue launched in 2006—holding five meetings through 2008 as a successor to the 1983 Joint Commission—U.S. officials have repeatedly labeled Chinese policies “non-market.” That language resurfaced at the 2025 G20, where Treasury Secretary Scott Bessent faced Chinese Vice-Premier Pan Gongsheng’s proposal to drop the term, reflecting a long-standing trade-balance dispute.

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Story summary

U.S. Treasury Secretary Scott Bessent said Chinese officials blocked a G20 joint communique.
The dispute centered on the phrase “non-market” used to describe trade imbalances.
China’s delegation, led by PBOC governor Pan Gongsheng and Vice Finance Minister Liao Min, proposed alternative wording.
The U.S. chair statement retained a line urging elimination of “non-market” policies and practices.
China recorded a $1.2 trillion trade surplus in 2025, a 20% increase from 2024.

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