Pakistan, July 19, 2025 – Tensions over U.S. tariff threats dominated the G20 finance ministers’ meeting in Durban, South Africa.
As finance chiefs gathered to discuss global economic cooperation, President Donald Trump’s new tariff plans created concern about further trade disruption and global fragmentation.
South Africa, the host, urged G20 countries to show bold leadership and unity in tackling rising trade barriers and climate financing challenges.
In his opening remarks, Finance Minister Enoch Godongwana stressed the need for strategic global action. He called for a revival of multilateralism and greater cooperation in solving global problems.
The meeting, held under South Africa’s G20 motto of “Solidarity, Equality, Sustainability,” aims to spotlight Africa’s needs-especially access to affordable capital and support for climate initiatives.
However, the absence of key figures like U.S. Treasury Secretary Scott Bessent has raised doubts about the unity of the group.
Bessent skipped the meeting, sending Michael Kaplan in his place.
Other notable absentees include finance ministers from India, France, and Russia. South African officials downplayed the issue, saying every country was represented, even if by different delegates.
Trump’s aggressive trade stance has rattled global markets.
With major tariffs set to take effect August 1-including 25% levies on autos, and 10% on BRICS nations-many fear the return of trade wars.
Germany’s Bundesbank warned that these tariffs could push Europe’s largest economy into recession in 2025. Trump’s criticisms of the U.S. Federal Reserve have also raised alarms about political interference in central banking.
Despite divisions, South Africa hopes to secure a joint communique-the first since 2023-by the end of the two-day summit. Officials say agreement on key global issues is still possible.
Yet with widening rifts over trade and climate, many wonder how long the G20 can continue to function as a united front.
