China Accuses G20 Members of Promoting Protectionism Over Export Reliance Criticism
China has criticized other G20 members for promoting protectionism after they addressed concerns about economies overly reliant on exports, particularly targeting China. A spokesperson from the Chinese Commerce Ministry stated that highlighting 'economic imbalances' and 'overcapacity' through multilateral platforms is a guise to pressure Beijing. The remarks come ahead of President Xi Jinping's visit to the U.S., amid ongoing trade tensions with both American and European partners. The U.S. Treasury Secretary had previously noted 19 G20 members agreeing on addressing an 'unsustainable equilibrium,' while China was the sole dissenting member. Additionally, France’s new law targeting low-priced Chinese e-commerce goods has drawn a warning from Beijing that it will take action if necessary. China also criticized U.S. sanctions against its companies under anti-Iran measures and urged their removal. Trade negotiations with the EU continue as Europe seeks to reduce its trade deficit by October or risk facing harsher penalties, though China insists on mutual cooperation rather than unilateral demands.
Topics: China-US relations economic imbalances G20 protectionism