China Rejects 19-Nation G20 Export Criticism as Protectionism
Updated
Updated · CNBC · Sep 3
China Rejects 19-Nation G20 Export Criticism as Protectionism
3 articles · Updated · CNBC · Sep 3
Summary
China said Thursday that G20 criticism of export-dependent economies amounts to protectionism, after it became the only member to reject language on trade "imbalances" in a joint statement.
19 G20 members backed U.S. Treasury Secretary Scott Bessent's call to address an "unsustainable equilibrium" driven by a stream of cheap exports, isolating Beijing at the meeting.
The Commerce Ministry said U.S. and European complaints about overcapacity are an excuse to pressure China, and separately demanded Washington lift Iran-related sanctions on Chinese companies and citizens.
Beijing also warned France over a new law targeting ultra-low-priced Chinese e-commerce sellers such as Temu, while telling the EU not to pair market-access demands with threats before an October deadline.
The pushback comes as trade frictions widen across multiple fronts ahead of President Xi Jinping's expected Washington trip later this month.
With October's tariff deadline looming, what specific retaliatory weapons will Beijing unleash to punish Europe's crackdown on its export dominance?
Could the Western alliance's aggressive crackdown on cheap Chinese exports inadvertently trigger a severe new wave of inflation for everyday consumers?
As Europe enforces its 2026 duty-free ban, will China's shift to local European warehousing successfully bypass these strict new trade barriers?