Bessent no-show, Brics tensions set to cast shadow over Durban G20 meeting
Several key officials including Bessent skipped February's Cape Town gathering of finance ministers and central banks in the grouping, already raising questions about its ability to tackle pressing global challenges.
'It's problematic not to have the world's largest economy represented at the table, at least at a senior political level,' said Josh Lipsky, chair of international economics at the Atlantic Council.
'It raises questions about the G20's long-term viability,' said Lipsky, adding Bessent's absence foreshadowed US plans for a slimmed-down, 'back to basics' G20 when it assumes the grouping's rotating presidency next year.
Trump has implemented a baseline 10% tariff on all US imports, with punitive rates targeting specific countries and products — including steel and aluminium at 50%, cars at 25% and threatened levies of up to 200% on pharmaceuticals. Extra tariffs on 25 countries are set to take effect on August 1.
His threat to impose further tariffs on Brics countries adds complexity, given that eight G20 members — including host South Africa — belong to the expanded Brics grouping. The overlap hints at the emergence of competing forums as Western-led institutions face credibility challenges.
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