Bessent heads into G20 talks with tariffs, Iran and debt in focus
Why it matters: The Asheville meeting comes as the US threatens more tariffs and secondary sanctions tied to Iranian oil.
Treasury Secretary Scott Bessent enters a two-day G20 finance meeting in Asheville, North Carolina, facing pressure on several fronts: U.S. tariffs, the Iran war, and investor concern over rising U.S. debt and bond yields. Bessent is expected to push G20 finance ministers and central bank governors to narrow trade imbalances, lift growth and cut commercial ties with Iran. The meeting opens amid uncertainty over the Trump administration’s next tariff steps, a trade fight with Canada and elevated energy prices linked to the closure of the Strait of Hormuz. Bessent has also warned countries could face secondary U.S. sanctions for buying Iranian oil or handling other transactions with Tehran.