Trade Wars Heat Up as G20 Confronts Tariffs, China Surplus, and Fed's Inflation Warning

Global trade relations are fraying from all sides. At the G20 finance ministers meeting in Asheville, North Carolina, U.S. Treasury Secretary Scott Bessent is pushing for coordinated action against China's $1.2 trillion trade surplus, even as he hosts allies whose own economies are already battered by American tariff walls.

Trade Routes

• United States/Canada: New 50% tariffs on $20 billion of Canadian imports are live; Canada retaliates Sept. 8 with...