The United States aims to pare the Group of 20 major economies back to its financial roots next year when it takes over the rotating presidency from South Africa, sources familiar with the Trump administration's plans said.

This is not only a strategic investment — it is one that can boost growth, create business opportunities, and reduce pressure on public budgets in key member states,” said Klingbeil.

G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.

The global economy has slowed and become less supportive of developing countries. African countries may be forced to resort to international capital markets to fill the gap in their development financing needs.

South Africa's Duncan Pieterse urges G20 to tackle multilateral system challenges, drive inclusive recovery, and strengthen global financial cooperation.

U.S. Treasury Secretary Scott Bessent will skip the meeting altogether, opting to head to Japan instead, according to Reuters. South Africa is also subject to a new 30% tariff rate, the only country in sub-Saharan Africa to be singled out in the latest round of announcements.

"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."

The G20 ECSWG meeting in South Africa addressed environmental crime, land degradation, biodiversity loss, and climate change, emphasizing international cooperation for sustainable development.