US Treasury to Push Trade and Iran Sanctions Agenda at G20 Meeting
Secretary Scott Bessent to address global trade imbalances, sovereign debt, and Iran sanctions compliance in Asheville
Quick Look
US Treasury Secretary Scott Bessent will lead discussions at the G20 finance meeting in Asheville, North Carolina, focusing on global trade imbalances, economic growth, sovereign debt, and enforcing international compliance with US sanctions against Iran.
AI-generated summary
Why It Matters
The Trump administration is resuming participation in the G20 finance track after shunning the process last year. The US is currently intensifying its sanctions campaign against Iran.
The Trump administration is heading into next week's Group of 20 finance meeting with a dual agenda: Push major economies to tackle global trade imbalances, boost growth and address sovereign debt, while pressing them to cut remaining economic ties with Iran, Reuters reported, citing a senior US Treasury official.
US Treasury Secretary Scott Bessent will host G20 finance ministers and central bank governors on Monday and Tuesday in Asheville, North Carolina, after the Trump administration shunned the South Africa-led G20 process last year.
The Treasury official said, in the report, that Washington wants to address global trade imbalances to benefit American workers and level the playing field for US companies. The administration also wants economies to compete on productivity, innovation and investment rather than policies that push excess production and capacity into global markets, the official said.
The growth discussions will focus on resilient supply chains for critical resources, including energy, as well as barriers to investment, innovation and productivity and regulatory reforms, according to the official.
The other big push is Iran. After Washington warned countries on Monday that they could face secondary US sanctions if they maintain business ties with Iran, Bessent is expected to tell G20 counterparts that they must comply with the US sanctions campaign if they want continued access to the dollar-based Western financial system, the official said.
The issue is expected to come up in every bilateral meeting Bessent holds with G20 counterparts in the coming days, according to the official.
US debt and bond yields will also be on the agenda. The Treasury official said elevated yields should fall as inflation cools, while the Treasury is seeking to lower longer-term borrowing costs through measures including larger buybacks of 10- to 30-year Treasuries.
The bigger picture: Washington is using its G20 finance track to push its priorities on global trade, growth and debt — while seeking broader international compliance with its Iran sanctions campaign.
What to Watch
AI outlook — possibilities, not facts
Secretary Bessent will hold bilateral meetings with G20 counterparts.
Very likely · Within days
Open Questions
- How will G20 members respond to the US demand regarding Iran?
- Will the proposed Treasury buybacks effectively lower long-term yields?
