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Scott Bessent Leads G20 Finance Track Meetings in Asheville to Address Global Trade and U.S. Debt

U.S. Treasury Secretary Scott Bessent is leading the G20 finance ministers and central bank governors in Asheville, North Carolina, to address global trade imbalances and rising U.S. debt. The administration announced that the selection of Asheville reflects a commitment to the region's revitalization following Hurricane Helene. While the administration seeks to revamp the G20 process under U.S. leadership, local protesters and rioters have expressed concerns regarding the recovery progress of the region. Secretary Bessent aims to push the Trump administration's worldview, specifically focusing on tightening sanctions on Iran and managing the next round of tariff moves. The meetings come at a time of significant uncertainty regarding the trade war with Canada and the flood of Chinese exports into Europe. Meanwhile, the administration is working to rebuild levies under different legal authorities after the Supreme Court struck down broad global tariffs. The Treasury is also taking interventionist moves to cool yields on 30-year debt, which reached 19-year highs this month.

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