Meeting Overview & Context
On July 17–18, 2025, finance ministers and central bank governors from the G20 convened in Durban, South Africa, under the theme “Solidarity, Equality, Sustainability”. This marks South Africa’s first-ever G20 presidency, with deep ambitions to elevate Africa’s core priorities, from climate finance and debt relief to inclusive development
However, the summit’s ambitions are overshadowed by U.S. President Donald Trump’s aggressive tariff agenda. His proposed blanket 10% tariff on all U.S. imports—paired with steep tariffs of 50% on steel/aluminum, 25% on autos, and up to 200% on pharmaceuticals, plus threats levied against BRICS nations—have cast a deep shadow over the meeting
U.S. Absence & Representation
The U.S. delegation lacks high-level representation, with Treasury Secretary Scott Bessent absent for the second G20 session this year, signaling Washington’s cooling investment in multilateral coordination Instead, Acting Undersecretary Michael Kaplan leads the contingent, highlighting a marked shift under a “back-to-basics” approach in the lead-up to the U.S.’s Presidency next year
Finance chiefs from India, France, and Russia are also skipping the event, fueling worries over diluted discussions and decision paralysis
Africa and Global South Agenda
Despite the tense backdrop, South African Reserve Bank Governor Lesetja Kganyago emphasized Africa’s operational agenda. Key priorities include:
-
Mobilizing climate finance
-
Addressing ballooning capital costs
-
Revisiting the G20 Common Framework to ease debt burdens in sub-Saharan Africa and other middle-income nations
-
Launching a cross-border African payment system to bolster intra-continental trade
However, these initiatives are threatened by waning foreign aid, slowed climate investment, and ballooning debt near $800 billion for sub-Saharan Africa
tariff Threats Cast a Cloud
Trump’s sweeping tariff plan remains the dominant theme, raising alarms about unpredictability in global trade. With additional levies set to start August 1, countries worry this could fracture rules-based trade and undermine export-driven economies—especially in Europe (notably Germany) and China
German officials warned that such tariffs could be a “game‑changer,” disrupting transatlantic commerce and the open-market foundations critical to Europe’s growth Meanwhile, the absence of a unified G20 response means discussions may focus on national policy adjustments, not coordinated countermeasures
Prospects for a Communiqué
The agenda features debt relief, climate finance, trade uncertainty, payment systems, and development bank reform . South Africa aims to issue a full G20 Communiqué at the meeting’s conclusion—something not achieved since July 2024
However, the U.S. disengagement and tariff divisions may force a more cautious, perhaps minimalist, outcome—likely a chair’s summary instead of a comprehensive declaration