"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."

Finance chiefs from the Group of 20 advanced and emerging economies said Friday that the global economy is facing

G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.

U.S. Treasury Secretary Scott Bessent did not attend the two-day meeting in the port city of Durban, continuing a string of snubs by Trump administration officials.

Finance chiefs from the Group of 20 (G20) countries stressed the importance of central bank independence while pledging to boost cooperation in a joint statement issued on Friday after a two-day meeting in South Africa.

A meeting of finance ministers and central bank governors from the Group of 20 in Durban, South Africa, will seek to deepen global relationships in "turbulent times", German finance ministry sources said on Tuesday,