Yet in 2025, the Trump administration has already taken actions that undermine these efforts, including withdrawing from UN tax negotiations, pressuring other advanced economies to shield U.S. corporations from global tax agreements, and opposing measures such as digital services and carbon taxes.
Climate action presents another area of concern. G20 countries are responsible for approximately 80 percent of global greenhouse gas emissions, yet many continue to fall short of their commitments. The U.S. administration’s withdrawal from the Paris Agreement and rollback of domestic climate policies reflect a broader retreat from climate leadership.
The Trump administration’s emphasis on expanding energy supply chains raises the possibility that fossil fuel development could be prioritized over clean energy transitions, particularly if multilateral development banks are encouraged to increase investments in oil and gas projects.
Taken together, these signals suggest that the 2026 U.S. G20 presidency could mark a significant retreat. Rather than building on recent efforts to address inequality, debt, and climate change, it may instead shift the forum toward a narrower agenda that prioritizes elite and corporate interests.
The direction ultimately taken will have far-reaching consequences, not only for the credibility of the G20 but for the future of global economic cooperation. As the U.S. government so blatantly prioritizes wealthy interests, it is a critical moment for civil society to step forward — organizing and advancing an agenda that breaks decisively from the G20’s all-too-often emphasis on preserving the status quo.
Now is the time for people, institutions, and movements to unite and champion bold new forms of multilateral cooperation that serve billions, not billionaires.