Bessent Says China Stopped Unanimous G20 Communique

Bloomberg's Jill Disis discusses Treasury Secretary Scott Bessent's statement that China was the sole G20 dissenter, blocking a joint communique over trade imbalances. China's record $1.2 trillion trade surplus and objections on Strait of Hormuz language added friction. The dispute is not expected to derail the anticipated Xi Jinping-Donald Trump meeting, but no specific investable trade ideas were presented. - Treasury Secretary Scott Bessent says China was the sole G20 dissenter over its large current account surplus. - China's 2024 trade surplus hit a record $1.2 trillion. - China also objected to language on free flow of trade through the Strait of Hormuz. - US efforts to isolate Iran economically are facing limited traction with partners. - The G20 chair statement reflects China's dissension. - US and China had only limited talks on AI; China's counterpart was absent. - The expected Xi Jinping-Donald Trump meeting in Washington is still on track despite tensions.