G-20 Finance Chiefs Meeting Under Tariff Cloud

Host S. Africa to Focus on Topics Like Funds to Combat Climate Change

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DURBAN - Group of 20 (G-20) finance chiefs were to meet in South Africa on July 17 under the shadow of US President Donald Trump's tariff threats and questions over their ability to tackle global challenges together.

The club, which came to fore as a forum for international cooperation to combat the global financial crisis, has for years been hobbled by disputes among key players exacerbated by Russia's war in Ukraine and Western sanctions on Moscow.

Host South Africa, under its presidency motto "Solidarity, Equality, Sustainability", has aimed to promote an African agenda, with topics including the high cost of capital and funding for climate change action.

The G-20 aims to coordinate policies, but its agreements are non-binding.

US Treasury Secretary Scott Bessent will not attend the two-day meeting of finance ministers and central bank governors in the coastal city of Durban, marking his second absence from a G-20 event in South Africa in 2025.