US Restructures G20 Finance Meetings Under Trump Administration: Shifting From Multilateral to Bilateral Focus

Donald Trump skipped the G-20 summit in Johannesburg in November.

Washington is preparing to commence its leadership of the Group of 20 by decreasing the frequency of finance chiefs' meetings, according to sources familiar with the plans, seemingly aiming to streamline multilateral processes.

The United States intends to eliminate the customary February G-20 meeting of finance ministers and central bank governors, these sources revealed. A White House representative confirmed that a February meeting will still occur, but with deputy finance ministers participating instead.

The G-20 structure typically encompasses numerous working-level and ministerial discussions culminating in a leaders' summit. Finance ministers traditionally convene twice in the host country and twice alongside International Monetary Fund and World Bank gatherings. Foreign and trade ministers generally hold separate meetings as well.

For the upcoming year, the US plans to host only one session with finance ministers and central bankers in August, sources indicated. The US aims to create a more concentrated schedule for ministers, allowing time for more in-depth discussions and redirecting the forum back to its fundamental focus on macroeconomic issues.

This strategy may also reflect President Donald Trump's preference for bilateral engagements over increasingly complex multilateral forums.

Trump was notably absent from the G-20 summit in Johannesburg in November. Despite the absence of the leader of the group's largest economy, a communique was still issued, highlighting the diminished importance the US currently assigns to this forum.

The US did not send Treasury Secretary Scott Bessent to the finance gatherings in South Africa in February and July, though he did attend the group's sessions held in Washington during April and October alongside the IMF and World Bank meetings.

Over the previous three years, South Africa, Brazil, and India have chaired the G-20. These Global South host nations emphasized issues such as debt restructuring, health concerns, and inequality in finance minister meetings, complex topics that reduced time available for traditional subjects like macroeconomics and financial markets.

Additionally, in recent years, finance leaders have increasingly devoted time to geopolitical conflicts, particularly following Russia's invasion of Ukraine and escalating Middle East tensions. Divergent national positions have frequently prevented the 20 members from issuing joint statements at the conclusion of their two-day meetings.

In its statement upon assuming the presidency, the United States declared it would "return the G-20 to its original mission of delivering economic growth and prosperity," identifying the reduction of regulatory burdens as its top priority.