G20 Finance Ministers Meeting: The U.S. Must Fulfill Responsibilities as Forum’s President

Editorial

14:00 JST, April 21, 2026

Concerns about the future of the global economy are growing due to the situation around Iran. Despite this, the United States has demonstrated an attitude of disregarding the Group of 20 (G20) conference, which is a key forum for international cooperation.

All countries and regions must call on the United States to bring the fighting to an early end, while at the same time considering measures to address the energy crisis.

The G20 meeting of finance ministers and central bank governors was held in Washington, and participants agreed on the need for the early calming down of the situation in the Middle East. However, neither a joint statement nor a president’s summary was issued.

Although the United States has assumed this year’s G20 presidency, U.S. Treasury Secretary Scott Bessent left the meeting early and did not hold the customary press conference for the country holding the presidency. Under these circumstances, it is impossible to say that the United States is fulfilling its responsibilities as G20 president.

The United States is not only the world’s largest economic power but also a responsible party for the turmoil in the Middle East. This is precisely the situation in which the United States should be exercising leadership.

Furthermore, South Africa did not participate in the G20 meeting this time. This is believed because the U.S. side expressed reluctance over allowing South Africa to participate, following U.S. President Donald Trump’s unilateral criticism that South Africa was persecuting white people. It is difficult to say that Trump’s criticism has gained widespread understanding.

The United States should allow South Africa to participate in the December summit.

The economic forecast presented by the International Monetary Fund is grim.

If the war ends quickly, global economic growth is projected to reach 3.1% this year. However, if it drags on, growth rates for this year and next year are expected to slow to around 2.0%, pushing the global economy into a situation close to recession.

In particular, the impact will be severe on emerging and developing nations in such places as Asia and Africa, where oil reserve systems are vulnerable. There are also concerns about a food crisis resulting from disruptions in the supply of fertilizers, which are made from oil and other materials.

The G20 is a framework that brings together advanced economies such as the United States, Japan and Europe with emerging economies like China and India. Since 2009, it has been regarded as the primary forum for economic discussions. It bears the heavy responsibility of underpinning the global economy.

As divisions deepen, it is crucial for Japan to play a role in maintaining unity and coordination among nations. Finance Minister Satsuki Katayama announced about $10 billion (about ¥1.6 trillion) in financial support to assist Asian countries in crude oil procurement and other needs.

Supply chains for oil-related goods, such as medical supplies, are closely intertwined within the region, and this support will also help Japan strengthen its procurement of essential goods. This should be commended as a support measure that embodies the spirit of mutual support.

The G20, too, should devise measures, such as the mutual provision of oil-related products and financial support, in light of the current crisis.

(From The Yomiuri Shimbun, April 21, 2026)