According to CoinMeta, as reported by InvestingLive, U.S. Treasury Secretary Scott Bessent stated at a G20 meeting that the world cannot accept China's continuous $1.2 trillion global trade surplus. He will pressure his colleagues from the G20 Treasury Department to re-examine trade terms with Beijing in order to reduce global imbalances. Bessent believes that strengthening trade barriers against Chinese goods will encourage Beijing to shift its economic focus from export dependence to domestic consumption. Despite his tougher rhetoric on the trade surplus, Bessent also confirmed that the two countries will continue to advance tariff reductions on non-strategic goods amounting to $30 billion each, indicating that U.S.-China trade relations are improving.