The finance ministers of the 20th group (G20) are expected to agree to a statement at their meeting today Friday (18.7.2025) to achieve a rare consensus despite the tensions caused by trade war US President Donald Trump.
The announcement will most likely include formalities about economic uncertainties and commercial issues that have been involved in the past, officials said and Bloomberg quoted. Trump’s trade war, which is ready to escalate with new duties on August 1st, has poured the G20 polymers and complicated South Africa’s efforts – as a rotation president this year – to maintain the team’s agenda.
“At a time when people are more uncertain, we need more commitment and not less, we need more powerful and durable and reliable markets for our exports,” said Australian Finance Minister Jim Chalmers. “This is the spirit that guided people’s contribution here-perhaps the main reason we have managed to have a statement,” he told Bloomberg at the event in the eastern province of Kwazulu-Natal in South Africa.
Imposing trade duties, despising the South African G20 slogan for “solidarity, equality and viability” and withdrawing billions of dollars in funding for climate funding and international assistance, the US is testing a world -class world.
This makes it even more important to achieve a common announcement – and not a summary of the president, which was achieved at a previous G20 Economic Council in the country.
“We are very optimistic that today a final announcement will be issued, which will send a strong message in favor of multimedia,” German Finance Minister Lars Clingbell told reporters at the event. “This is an important achievement for the presidency of the G-20, which has carried out these negotiations with prudence and skill.”
The meeting, at a lush resort in the Indian Ocean near the Derban city-Limani, was able to make progress despite the absence of several finance ministers, including US Finance Minister Scott Besed, who travels to Japan.
South African Finance Minister Innok Gondongaa had expressed the conviction that he would be signed by a statement, despite the absence of the leading Washington finance official.
While the US did not send Bessed, those who came had a “clear command” to speak on behalf of their government, he said.