US outlines growth, deregulation, energy as priorities for G20 presidency, sources say

There has been much speculation of how the country would handle its presidency after Trump’s moves to quit multilateral treaties, slash development aid

US President Donald Trump adjusts the microphone during an event to make announcements on fertility treatment coverage, in the Oval Office at the White House in Washington, DC, US, Oct 16, 2025. REUTERS/Jonathan Ernst

The US will focus on economic growth, deregulation and energy as key priorities for its G20 presidency next year, Treasury Secretary Scott Bessent told a meeting of the world's major economies on Thursday, two sources familiar with the remarks said.

The upcoming US presidency of the G20 has stirred curiosity and uncertainty, given US President Donald Trump's moves to quit multilateral treaties and organisations and slash development aid, while eliminating any focus on climate change, an issue that has preoccupied the G20 in recent years.

Bessent outlined Washington's priorities during a G20 meeting on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington, as is customary for the country preparing to take over leadership the following year, the sources said on condition of anonymity.

The US Treasury declined to comment.

South Africa, the current G20 leader, will hand off to the US after a leaders summit in late November that Trump will not attend, sending Vice President JD Vance in his place.

Big themes for the US will be promoting investment in global critical minerals supply chains, and working with the private sector to understand what drives innovation, including the use of artificial intelligence, the sources said.

Bessent also listed improving structural, regulatory and tax systems, and addressing countries' debt issues, which had been a big focus of South Africa this year.

G20 finance officials earlier on Thursday issued a declaration on debt, calling for further efforts to boost debt sustainability, enhance transparency and give borrowing countries a stronger voice in the process, its first standalone communique on debt since the COVID-19 pandemic.