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China Dissents as G20 Finance Ministers Agree to Address 'Cheap Exports'

China Dissents as G20 Finance Ministers Agree to Address 'Cheap Exports'

Treasury Secretary Scott Bessent announced that 19 of the G20 member countries have agreed to address the issue of 'cheap exports' that contribute to global economic imbalances. This consensus was reached during a two-day meeting of G20 finance ministers in Asheville, N.C., though China dissented from the agreement. Bessent emphasized the significance of 19 nations acknowledging the problem, highlighting its 'enormity.' He noted that China is a primary source of these exports, which the Trump administration and many economists blame for trade imbalances, including China's large trade surplus and the U.S.'s substantial deficit. Bessent also previewed an upcoming meeting between President Trump and China's President Xi Jinping, where AI policy will be a discussion point. He reiterated his past warnings to other nations about the potential for Chinese goods to flood their markets due to U.S. tariffs, a prediction he believes has materialized.
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China Market Research Group Founder Calls for Easing U.S. Export Controls to China

China Market Research Group Founder Calls for Easing U.S. Export Controls to China

China Market Research Group Founder Calls for Easing U.S. Export Controls to China
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Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Scott Bessent announced that 19 out of 20 G20 members agreed on the unsustainability of 'cheap exports' causing global economic imbalances, with China being the sole dissenter. Bessent made these remarks following a two-day meeting with finance ministers and central bankers, where he advocated for policies similar to the Trump administration's use of tariffs to address trade imbalances. He stated that non-market-based economies pushing out cheap exports are not sustainable and directly attributed China's large and unsustainable current account surplus as the reason for its dissent. Bessent also indicated that President Trump and Chinese President Xi Jinping would discuss artificial intelligence policy, emphasizing the need for more guardrails to prevent 'non-state actors' from developing their own AI models. He criticized AI companies for failing to adequately explain themselves to the American public, suggesting they must convince the public that benefits will not be limited to a small ...
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Bessent says G20 countries should also use tariffs to protect their industries from cheap imports

Bessent says G20 countries should also use tariffs to protect their industries from cheap imports

Treasury Secretary Scott Bessent says he’s urging his G20 counterparts to take a page from the Trump administration’s playbook of using tariffs to crack down on trade imbalances
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U.S. Tech Experts Visit China to Study Innovation Amid Escalating Tensions

U.S. Tech Experts Visit China to Study Innovation Amid Escalating Tensions

U.S. Tech Experts Visit China to Study Innovation Amid Escalating Tensions
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House Unanimously Passes Bipartisan Bill to Combat China's Trade Crimes, Co-Sponsored by Rep. Rosa DeLauro

House Unanimously Passes Bipartisan Bill to Combat China's Trade Crimes, Co-Sponsored by Rep. Rosa DeLauro

The U.S. House of Representatives has unanimously passed the Protecting American Industry and Labor from International Trade Crimes Act, a bipartisan bill introduced by Congresswoman Ashley Hinson (IA-02). This legislation aims to provide the Department of Justice (DOJ) with enhanced tools to investigate and prosecute trade-related crimes, particularly those perpetrated by companies based in the People's Republic of China (PRC). The bill was co-sponsored by a broad coalition of representatives, including Rep. Rosa DeLauro (D-CT-03), the top House Democrat on the Appropriations Committee. The act seeks to address issues such as tariff evasion, illegal transshipment, and forced-labor violations that undermine American workers and industries. Key provisions of the bill include establishing a dedicated structure within the DOJ's Criminal Division for trade crime investigations, strengthening coordination among law enforcement agencies, and requiring annual reports to Congress on the DOJ's efforts.
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U.S. Intensifies Economic Security Measures Amidst Escalating Technology Competition with China

U.S. Intensifies Economic Security Measures Amidst Escalating Technology Competition with China

The U.S.-China technology competition is driving the United States to implement sophisticated economic security tools beyond traditional tariffs. These measures include export controls, investment screening, and sanctions, as detailed by the Center for Strategic and International Studies (CSIS). The focus is on critical technologies such as semiconductors, artificial intelligence, and quantum technologies. The U.S. aims to rebuild domestic production capacity and strengthen coordination with allies to counter China's technological advancements. This strategic shift is a response to the increasing weaponization of trade and investment, energy security concerns related to AI, and the rapid evolution of advanced technologies. The CSIS is offering a two-day course to provide government, policy, and industry professionals with a comprehensive understanding of these geostrategic and geoeconomic factors.
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Cook hands Apple to Ternus: bigger and richer, but catching up in AI race

Cook hands Apple to Ternus: bigger and richer, but catching up in AI race

By Aditya Soni Sept 1 (Reuters) - When Tim Cook took over as Apple's CEO, he did not try to fill the big shoes of its legendary founder and product visionary Steve Jobs. Instead, he took Jobs' advice: "Never ask what I would do, just do the right thing."
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U.S. Department of Homeland Security Expands UFLPA List, Adding 43 Chinese Companies

U.S. Department of Homeland Security Expands UFLPA List, Adding 43 Chinese Companies

The U.S. Department of Homeland Security (DHS) has significantly expanded its Uyghur Forced Labor Prevention Act (UFLPA) Entity List by adding 43 companies based in China. This marks the largest single addition to the list since the UFLPA was enacted, increasing the total number of listed entities to 187. The newly added companies span various sectors, including metals, textiles, tomatoes, and downstream products. The UFLPA prohibits the importation of goods into the United States that are produced wholly or in part in China's Xinjiang Uyghur Autonomous Region, or by entities identified on the UFLPA Entity List, due to concerns about forced labor. This expansion reflects an ongoing effort by the U.S. government to combat forced labor in supply chains and ensure that goods entering the U.S. market are not tainted by such practices.
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USTR Seeks Public Input on Russia's WTO Compliance for Annual Report to Congress

USTR Seeks Public Input on Russia's WTO Compliance for Annual Report to Congress

The Office of the U.S. Trade Representative (USTR) is soliciting public comments for its yearly assessment of Russia's adherence to its World Trade Organization (WTO) commitments. This request, announced in a September 1 Federal Register notice, is part of a mandate under the Russia and Moldova Jackson-Vanik Repeal and Sergei Magnitsky Rule of Law Accountability Act of 2012. The Act requires an annual evaluation of Russia's implementation of the WTO Agreement. USTR is specifically seeking detailed information regarding Russia's compliance with obligations undertaken when it joined the WTO in 2012. Areas of interest include import and export regulations, standards, sanitary and phytosanitary measures, trade-related investment measures, taxes on trade, subsidies, state-controlled enterprises, intellectual property, services, government procurement, and rule-of-law issues. Written comments and requests to testify are due by October 1, 11:59 p.m. ET, under Docket USTR-2026-0497. A public hearing is scheduled f...
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France targets Shein and Temu with fast fashion fees

France targets Shein and Temu with fast fashion fees

By Dominique Patton and Helen Reid PARIS, Sept 1 (Reuters) - France started imposing fees on the extreme end of fast fashion on Tuesday to try to curb a surge in sales of cheap clothing sold by e-commerce sites including Shein and Temu.
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McKinsey Executives Challenge Conventional Views on China's Economic Future and U.S. Decoupling

McKinsey Executives Challenge Conventional Views on China's Economic Future and U.S. Decoupling

McKinsey Executives Challenge Conventional Views on China's Economic Future and U.S. Decoupling