financetom
Business
financetom
/
Business
/
US Treasury's Bessent to skip South Africa G20 finance meeting next week, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US Treasury's Bessent to skip South Africa G20 finance meeting next week, sources say
Jul 8, 2025 10:29 AM

By Andrea Shalal

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent will skip a Group of 20 finance ministers and central bank governors meeting in South Africa next week, sources familiar with his plans told Reuters, marking the second time this year he has opted against attending a G20 meeting in the host country.

A Treasury official confirmed that Michael Kaplan, acting undersecretary for international affairs, will represent the department at the July 17-18 meeting in Durban, South Africa instead. 

Bessent skipped South Africa's first G20 finance meeting in February to attend President Donald Trump's first cabinet meeting in Washington. Finance ministers from China, Japan, India and Canada also skipped the meeting in Cape Town focused on tackling global poverty, as did the European Union's top economic official.

Bessent's February decision came amid rising tensions between Washington and Pretoria as Trump threatened to cut off funding for South Africa, accusing President Cyril Ramaphosa's government of confiscating land from white South Africans. U.S. Secretary of State Marco Rubio also skipped a February G20 foreign ministers meeting in South Africa.

In May, Trump declined to say whether he would attend a G20 leaders summit in South Africa in November, after ambushing Ramaphosa at the White House with explosive false claims of white genocide and land seizures in Africa's largest economy.

On Monday, Trump sent Ramaphosa a letter informing him that imports from South Africa would be subject to a 30% tariff starting next month, unless the country agrees to reduce its trade barriers to U.S. goods -- one of more than a dozen countries to get similar warnings.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bread Financial Approves Up to $150 Million Stock Buyback Plan
Bread Financial Approves Up to $150 Million Stock Buyback Plan
Mar 5, 2025
08:15 AM EST, 03/05/2025 (MT Newswires) -- Bread Financial ( BFH ) said Wednesday the board has approved a plan for the buyback of up to $150 million of its common shares. The repurchase program has no expiration date, the company said. ...
Canada Seeks Consultations With WTO Over US Tariffs
Canada Seeks Consultations With WTO Over US Tariffs
Mar 5, 2025
08:15 AM EST, 03/05/2025 (MT Newswires) -- Canada's envoy to the World Trade Organization said late Tuesday that she has requested consultations with the multilateral commerce mediator with regard to tariffs imposed by the US. The US decision leaves us with no choice but to respond to protect Canadian interests, Nadia B. Theodore wrote in a post on LinkedIn. We...
Acadia Healthcare Launches $500 Million Senior Notes Offering
Acadia Healthcare Launches $500 Million Senior Notes Offering
Mar 5, 2025
08:15 AM EST, 03/05/2025 (MT Newswires) -- Acadia Healthcare ( ACHC ) said Wednesday it has launched a private offering of $500 million of senior notes due 2033. The provider of healthcare services said it intends to use the proceeds to prepay a portion of the outstanding borrowings under its existing senior secured revolving line of credit. Shares were 1.8%...
Thor Industries Q2 Sales Drop 8% Amid Macroeconomic Challenges, Narrows FY25 Outlook
Thor Industries Q2 Sales Drop 8% Amid Macroeconomic Challenges, Narrows FY25 Outlook
Mar 5, 2025
Thor Industries, Inc. ( THO ) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter loss per share of one cent, missing the street view of 6 cents earnings per share. Quarterly sales of $2.02 billion (down 8.6% year over year) outpaced the analyst consensus estimate of $1.974 billion. Gross profit margin in the quarter...
Copyright 2023-2026 - www.financetom.com All Rights Reserved