Bessent to Miss G20 Meeting in South Africa, Focuses on World Expo 2025

U.S. Treasury Secretary Scott Bessent has decided to bypass the upcoming Group of 20 finance meeting in South Africa next week, sources informed Reuters. Instead, he will be attending the World Expo 2025 in Osaka, Japan, as per the Treasury's spokesperson.

Michael Kaplan, acting undersecretary for international affairs, will take Bessent's place at the July 17-18 meeting near Durban, South Africa. The U.S. is slated to lead the G20 next year, having played a critical role in its establishment post-global financial crisis.

Bessent's decision follows rising diplomatic tensions after President Trump threatened to impose tariffs and cut funds to South Africa. Meanwhile, Trump's recent letter to Japan about increased tariffs continues to shake global trade dynamics.

(With inputs from agencies.)