G20 Finance Leaders Gather Amid Global Economic Tensions

ASHVILLE: Finance leaders from the Group of 20 major economies open talks Monday at a US-hosted gathering, as the Trump administration seeks consensus on lifting global growth while ramping up economic pressure on Iran. The gathering of G20 finance ministers and central bank governors takes place Monday and Tuesday in the Blue Ridge Mountains city of Asheville, North Carolina. But looming over the meetings are fallout from the US-Israeli war on Iran, a tightening of US trade barriers and questions on whether the group can still work together to address key economic challenges. US Treasury Secretary Scott Bessent skipped last year's meeting led by South Africa, which has been excluded from the group by the US. Washington holds the rotating presidency this year. Instead, US officials invited Poland to the table, although it is not a permanent G20 member. Brazil's finance minister is shunning the gathering amid tensions with the Trump administration. A Russian representative is participating too. A European official speaking on condition of anonymity expressed disapproval that Moscow -- at war with Ukraine since its 2022 invasion -- was not excluded. Besides promoting economic growth, US priorities this year include dealing with "global imbalances" and sovereign debt challenges, a senior US Treasury official told reporters ahead of talks. G20 discussions will seek to ensure economies avoid policies that push excess production and capacity into global markets, the official added. The official noted that some G20 partners have seen dumping on their shores while Trump raised US trade barriers -- echoing criticism of China's excess industrial capacity, which critics say drives down prices and causes unfair competition.