U.S. President Donald Trump has described the recently concluded G20 Finance Ministers and Central Bank Governors meeting in Asheville, North Carolina, as “very productive and positive,” praising Treasury Secretary Scott Bessent for representing the United States.
The two-day meeting, held on August 31 and September 1 under the U.S. presidency of the G20, brought together finance ministers and central bank governors from the world’s major economies to discuss global economic growth, trade imbalances, debt, financial stability and other economic challenges.
Trump said the discussions were constructive and urged other countries to adopt policies he believes have contributed to U.S. economic growth. In a post on Truth Social, he called for lower taxes and regulations and promoted increased domestic energy production as part of his administration’s growth strategy.
Trade Imbalances Take Centre Stage
One of the most significant issues at the meeting was the growing concern over global trade imbalances, particularly China’s export-driven economic model. According to Reuters, G20 members backed efforts to address “non-market” policies contributing to trade distortions, with China the only member to dissent.
U.S. Treasury Secretary Scott Bessent argued that large volumes of low-cost Chinese exports could distort markets in other countries. The disagreement prevented the G20 from producing a fully consensual communiqué, with the United States instead issuing a chair’s statement.
Focus on Global Growth
The official U.S. Treasury chair’s statement said the meeting made progress on several priorities, including private-sector-led growth, productivity, global imbalances, financial literacy, sovereign debt, digital assets and financial-sector issues.
International Monetary Fund Managing Director Kristalina Georgieva also said there was strong convergence among participants on the importance of increasing potential economic growth. She stressed that structural reforms, sound fiscal and monetary policies and international cooperation would remain important in dealing with debt challenges and global economic imbalances.
Trump’s positive assessment comes as the global economy faces persistent trade tensions, elevated government debt and uncertainty surrounding monetary policy. The United States is seeking to use its 2026 G20 presidency to promote stronger economic growth and policies centred on private investment and productivity.
The meeting also sets the stage for further discussions among major economies ahead of the G20 Leaders’ Summit, where broader political and economic issues are expected to receive attention.
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