US eyes ‘back to basics’ revamp of G20 when it assumes presidency next year

The United States plans to streamline the Group of 20 (G20) back to its financial roots when it assumes the rotating presidency from South Africa next year, reflecting the Trump administration's skepticism toward multilateral institutions. Washington has scaled back participation, with Treasury Secretary Scott Bessent skipping recent meetings, and aims to focus solely on leaders' summits and financial tracks while eliminating working groups on energy, health, commerce, and the environment. This approach aligns with a G20-wide review of its expanded agenda and calls to refocus bodies like the IMF on core missions. The changes could help the G20 endure but may create a leadership vacuum for nations like China to fill.