US Treasury Secretary Scott Bessent won’t travel to the Group of 20 finance ministers meeting in South Africa next week as he focuses on the domestic agenda in his first weeks in office, a person familiar with the matter said.

South Africa's Finance Minister Enoch Godongwana has been forced to postpone the unveiling of the national budget following sharp disagreements within the coalition government. Coalition partners derailed his budget after opposing his plan to raise value-added-tax (VAT),

The Treasury secretary is the second top U.S. official not to attend the Group of 20 gatherings because of rising tension with South Africa over its land policies.