Treasury Secretary Bessent's G20 push on yen policy and China's trade surplus

Key developments

1. Aug 31, 2026

   US Treasury Secretary Scott Bessent says yen moves remain well contained, signaling patience with BoJ Governor Kazuo Ueda's policy pace ahead of the G20 gathering.

   7 sources on this →
2. Aug 31, 2026

   Bessent urges G20 nations to reevaluate trade terms with China to curb its $1.2 trillion export surplus and push Beijing toward domestic consumption.

   8 sources on this →

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Photo: Atlantic Ambience / Wikimedia Commons (Pexels)

Finance

Yen Moves Contained After US-Japan Intervention

US Treasury Secretary Scott Bessent said the yen moves are pretty well contained and not disorderly, signaling patience for BoJ Governor Kazuo Ueda to set policy pace and suggesting Japan may have reached the end of Abenomics under Prime Minister Sanae Takaichi. As the G20 gathering approaches, he also indicated robust talks with China and a shift toward letting Tokyo manage monetary policy, while avoiding fresh intervention and watching incoming data for further steps.

7 sources

Photo: U.S. Department of the Treasury / Wikimedia Commons (Public domain)

World

Bessent urges G20 to curb China's trillion-dollar surplus

U.S. Treasury Secretary Scott Bessent urged the G20 to reevaluate trade terms with China to curb its $1.2 trillion export surplus and push Beijing toward domestic consumption, arguing that current export-driven growth strains the global economy. He advocates multilateral policy tools—such as adjusting import duties, export credits, and investment screening—to coordinate a shift away from China’s export-led model, noting how Europe and Latin America have already absorbed redirected shipments as a result of U.S. tariffs and bans.