Asheville
Finance leaders from the Group of 20 major economies open talks Monday at a US-hosted gathering in the Blue Ridge Mountains city of Asheville, North Carolina, as the Trump administration seeks consensus on lifting global growth while ramping up economic pressure on Iran. The gathering of G20 finance ministers and central bank governors takes place Monday and Tuesday.
But looming over the meetings are fallout from the US-Iran war, a tightening of US trade barriers, and questions on whether the group can still work together to address key economic challenges. US Treasury Secretary Scott Bessent skipped last year's meeting led by South Africa, which has been excluded from the group by the US. Washington holds the rotating presidency this year and invited Poland to the table, although it is not a permanent G20 member.
Brazil's finance minister is shunning the gathering amid tensions with the Trump administration. A Russian representative is participating too. A European official, speaking on condition of anonymity, expressed disapproval that Moscow, at war with Ukraine since its 2022 invasion, was not excluded.
Difficult conversations
Besides promoting economic growth, US priorities include dealing with "global imbalances" and sovereign debt challenges. G20 discussions will seek to ensure economies avoid policies that push excess production and capacity into global markets, echoing criticism of China's excess industrial capacity.
Certain reporters from major US newsrooms, including the New York Times and Bloomberg News, were not granted credentials to cover the gathering. A Times spokesperson said this was "not just another disturbing effort by the administration to undermine independent journalism, but a blatant attempt to evade public scrutiny."