US-hosted G20 finance meeting to target growth, imbalances, Iran sanctions, Treasury official says
TLT•U.S. to press growth, imbalances and debt at G20 meeting
The Trump administration aims to have finance leaders from the Group of 20 major economies agree next week on steps to boost economic growth, reduce global imbalances and tackle sovereign debt challenges while pressing them to cut off Iran's economic lifelines, a senior U.S. Treasury official said on Thursday.
After shunning the South Africa-led G20 process last year, U.S. Treasury Secretary Scott Bessent will host G20 finance ministers and central bank governors on Monday and Tuesday in the Blue Ridge Mountains city of Asheville, North Carolina.
The Treasury official said that the Trump administration has been focused on addressing global trade imbalances to benefit American workers and leveling the playing field for American firms.
"And so we're really focusing on this head on in our G20 discussions to ensure that our economies compete on productivity, innovation, and investment, and not on just sort of policies that push excess production and excess capacity into global markets," the official said, echoing terms often used by the Trump administration to describe China's export-oriented economic model.
